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In China discovered a large Deposit of gold ore

9 April 2017

In the province, PRC Shandong, near the Laizhou city was discovered huge gold reserves. According to experts, this amount of precious metal will provide the state with raw materials for 40 years, with daily production of 10 thousand tons. The treasure estimated at $22 billion Weight gold ore 382 tons. Precious stocks is two kilometers in length, and the height of the reservoir has 67 meters. The rock contains gold ore in the calculation of 4.52 grams per tonne. This is the most rich Deposit of gold reserves in the country’s history. Now this is the main region of China in the gold mining industry.

For a long time, China ranks first in the world market for gold mining. And for the past 16 years only increases its industry.

Koos Jansen says that at the beginning of 2017, the Republic of China has gold reserves of 1677 tons. For comparison, the gold reserves of Russia has 1645 tons, Switzerland with 1040 tons. The greatest gold reserves of the precious metal from the United States, they constitute 8134 tons. Got the lowest number of Yemen — 1.6 tons.

Individuals of the PRC save 15 500 tonnes of gold. This figure allows the country to stay at the second position. The first place belongs to India. The citizens of the state have at their disposal 20 000 tons of gold reserves.

China looking for gold in other countries and actively buying. This country needs to internationalize the yuan. A sufficient number of gold stocks allows you to embed their rules in the system international currency.

In addition to buying gold, China is also involved in projects for the extraction of gold mineral resources in cooperation with companies from different countries. The plans of Chinese investors getting a controlling part in projects of the Russian Federation. They are interested in fields along the border of China.

Since last year the Chinese currency is officially part of the capacity of the International monetary Fund. The currency of China ranks third in the IMF and received 11% of the total share. But experts believe that, despite the occurrence of the yuan in the International monetary Fund, it is not a currency that is freely convertible. The exchange rate specifically understated by the Chinese government to stimulate state exports.

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