icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Large silver deposit discovered in central China

Large silver deposit discovered in central China
One of the world’s largest silver producing countries, China, has announced the discovery of a huge deposit with estimated reserves of at least 1,500 tons.

The deposit was discovered by geologists in Henan Province. It is part of the Zhonghe deposit area, which boasts 280,000 tons of lead and 320,000 tons of zinc, according to the Henan Bureau of Geo-exploration and Mineral Development.

Also on rt.com China claims discovery of its largest gold mine with $22 billion potential

Earlier, a large silver deposit with reserves of 2,661 tons was discovered in the province’s Tongbai County.

A recent report by the US-based Silver Institute said that China will play a major role in the global silver market for years to come, both as an industrial user and a silver miner. The report called China by far the largest consumer of silver globally, accounting for 18 percent of global fabrication demand in recent years. It said that China is the third-largest silver-producing country, as well as a key nation for processing primary raw materials from around the world.

Also on rt.com China discovers undersea gold reserves estimated at $16.4bn

Last year, Beijing announced discovery of its largest gold deposit with a $22 billion potential. The Xiling gold seam in eastern China was more than 2,000 meters long and 67 meters wide. At full capacity, the mine could produce gold for 40 years, scientists said.

READ MORE: World’s five most expensive precious metals

China only began releasing its mine supply information in 2000, and the sector has grown faster than any other nation since.

For more stories on economy & finance visit RT's business section

Podcasts