China says it has discovered the world’s largest known deposit of gold, estimated to be worth over $80bn (£63bn). The deposit at the Wangu gold field in central China could yield more than 1,000 tonnes of gold, the Geological Bureau of Hunan was quoted as saying by Chinese state media.

Valued at approximately 600 billion yuan or US$83 billion, the discovery could be considered the largest and most lucrative reservoir of gold ever uncovered, surpassing the 900 metric tons estimated to lie within the mother of all gold reserves, South Deep mine in South Africa.

Chinese officials have announced the discovery of a massive deposit of high-quality gold ore, potentially worth around $83 billion, which could end up being the largest known deposit of the precious metal anywhere in the world.

China has struck gold — literally — after geologists discovered an estimated $83 billion worth of gold in central China's Hunan Province, though accessing the underground deposit might be easier said than done.