China has discovered its largest gold deposit since 1949. The deposit, found in Liaoning province, contains about 1,444 tons of gold. The huge treasure was identified after just 15 months of searching.

China's Ministry of Natural Resources confirmed on Friday that the Dadonggou mine is the country's largest single gold discovery to date. Officials said it contains about 2.586 million tons of ore, with an average yield of 0.56 grams of gold per ton. In total, the mine is estimated to contain about 1,444 tons of gold.

The total value of this gold is more than 166 billion euros at current market prices. Gold prices have hit a record high this year, with a kilogram of gold trading at more than 115,000 euros.

The state-run Liaoning Geological and Mining Group completed the project. It employed nearly 1,000 technicians and workers and completed the exploration in just 15 months. It is rare for such a large deposit to be completed in such a short time.

The ministry said that while the reserves are described as "super-large", their value is low. However, a preliminary assessment of their economic potential has already been completed.

China produced 377.24 tonnes of gold in 2024, up 0.56 per cent from the previous year. The country's domestic demand for gold was 985.31 tonnes. Demand for bars and coins increased by more than 24 per cent in a year. Analysts say there is a growing trend of wealth protection among China's middle class. Gold is now rapidly becoming a popular safe-haven investment in the country due to global economic uncertainty.