Gold mine in Yantai discovers new reserves

The Xiling village gold mine in Laizhou, Shandong province, said it discovered 200 tons of gold reserves recently, bringing the cumulative gold reserves in the mine to 580 tons — a potential economic value of more than 200 billion yuan ($28.5 billion), Dazhong Daily reported on Thursday.

With the new discovery, the Xiling gold mine is said to have become the largest single gold deposit in China.