China could get the largest gold reserves in world history

July 4 2022 20

In Uganda, using aerial photography and other research methods, the richest gold reserves in world history were discovered, the volume of which is about 31 million tons of gold ore.

It is reported that from this amount of ore material it will be possible to extract about 320 thousand tons of gold. The Chinese company Wagagai will mine the precious metal.

The found gold deposits are located in the northeast (the Busia and Karamoja regions on the border with Kenya), as well as in the central and western parts of Uganda (the Kasanda and Busheni regions, respectively).

According to the representative of the Ministry of Energy and Mining of Uganda, Solomon Muyita, Wagagai will start mining and refining the yellow metal from impurities before the end of this year in Busia, producing 5 tons of gold bullion daily. Earlier, a Chinese company invested about $200 million in gold mining in Uganda. Wagagai's expected revenue from this project could be approximately $20 trillion.

In early 2022, the Ugandan Parliament passed a law on the mining industry, according to which a profile state-owned company will be created in the country. According to the text of the law, each mining company in the country must sign an agreement with a state-owned company that the latter acquires 15 percent of the company's shares.

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Bulanov

-1

4 July 2022 14: 28

If so, the yuan will be on the gold standard and become the world's new reserve currency soon. And then the States will begin to withdraw their bases from other countries faster than the USSR from the GDR. (Patamu shta denyuh ne wakes up.)
1. k7k8
  
  +2
  
  4 July 2022 15: 54
  
  Quote: Bulanov
  If so
  
  If so, that is very sad. Even the Negroes offered cooperation in geological surveys and development of the deposit to the Chinese comrades, and not to Russia, which has vast experience and centuries-old traditions in gold mining.
  
  Quote: FGJCNJK
  Well, let's rejoice for our Chinese comrades!
  
  And we can only rejoice for the Chinese comrades.
  
  Quote: ArtPilot
  Uganda will not give up 85% of the mined gold
  
  Yes, even 20% of 20 terabucks against the background of the unfortunate 200 million bucks invested is just huge money that would not interfere with Russia either. Even with such a division, the profit of the Chinese will exceed the investment by 20000 times. Is this not enough?
  1. aslanxnumx
    
    +2
    
    5 July 2022 10: 31
    
    China issues loans under guarantees that this money will return to China. Russia issues loans that they cut among themselves, then everything is written off over time
  2. House 25 Sq. 380
    
    -1
    
    5 July 2022 12: 42
    
    And what did the Negroes not offer the French, the British, the Americans?
    Are they not offended?
    1. k7k8
      
      +1
      
      5 July 2022 13: 05
      
      Work with those who offered the best conditions.
      1. House 25 Sq. 380
        
        -1
        
        5 July 2022 14: 23
        
        Why didn't the French, the British, the Americans offer the best conditions?
        Are they not offended?
        
        k7k8
        
        +1
        
        5 July 2022 15: 29
        
        Is the record stuck?
        
        House 25 Sq. 380
        
        -2
        
        6 July 2022 01: 11
        
        Did I put the question this way?
        "What immediately" Oblique "?"
        Or is there no answer?
FGJCNJK

-2

4 July 2022 14: 29

Well, let's rejoice for our Chinese comrades!
Art Pilot

0

4 July 2022 15: 30

It is not entirely clear how much of these trillions will go to the Chinese and how much to the Ugandans. Uganda will not give up 85% of the mined gold.
Expert_Analyst_Forecaster

+1

4 July 2022 15: 48

Wagagai's expected revenue from this project could be approximately $20 trillion.

This is hard to believe. But if this is true, then there will be a big fight for this gold.
And the obvious disadvantage for all countries with large gold reserves is that gold will fall in price.
So it would be better if it was a duck.
1. k7k8
  
  0
  
  4 July 2022 16: 06
  
  Quote: Expert_Analyst_Forecaster
  And the obvious disadvantage for all countries with large gold reserves is that gold will fall in price.
  So it better be a duck
  
  Here you are absolutely right. But on the other hand, the presence of such an amount of gold could give a strong impetus to the development of the electronics industry, because gold is the best conductor at room temperatures. Of course, the development of room-temperature and metallic-type superconducting materials would have an even greater impact on this matter, but there is even less hope for this than for the development of controlled low-temperature thermonuclear fusion in a realistically foreseeable future.
  1. Expert_Analyst_Forecaster
    
    +2
    
    4 July 2022 16: 11
    
    the presence of such an amount of gold could give a strong impetus to the development of the electronics industry
    
    There is no shortage of gold. So nothing much will change.
zzdimk

-1

4 July 2022 15: 55

It is strange that the results of the 70s of the USSR are given out as new ones.
Bakht

+2

4 July 2022 16: 30

Let's hope they don't find oil here.
Jacques sekavar

0

4 July 2022 19: 37

The base-base is food, and no one eats gold, and if you don’t buy food for it, then it is useless.
1. k7k8
  
  +2
  
  4 July 2022 20: 54
  
  Quote: Jacques Sekavar
  The base-base is food, and no one eats gold, and if you don’t buy food for it, then it is useless.
  
  Yes, it's inedible. But even without it, the bread slicer will not have much to load. As they say, happiness is not in money, but in their quantity. Money can't buy happiness, but it can solve a lot of problems that make us unhappy.
zenion

-3

5 July 2022 13: 16

Amazing coincidence that history repeats itself. African countries were found above the Chinese gold. In the same way, many countries have been found over American oil that have nothing to do with the United States.
Expert_Analyst_Forecaster

0

6 July 2022 09: 56

gold reserves, the volume of which is about 31 million tons of gold ore.
It is reported that from this amount of ore material it will be possible to extract about 320 thousand tons of gold.

A ton of ore yields 10 kg of gold. Something very rich ore is obtained. I DO NOT BELIEVE!!!
Most likely, 320 tons of gold and 20 billion. The usual story is that humanitarians do not distinguish trillions from billions. They know that this is a lot and consider it sufficient.
1. zenion
  
  0
  
  6 July 2022 14: 02
  
  Why don't you believe if they mine gold from asphalt, in the photo.