China drills a 4006.17 meter deep small diameter hole, finds 200 tons of gold.
(media.greatawakening.win)
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What a BS story. The mine is 1.2 miles x 1.2 miles and 2.5 miles deep. I don't care how many front loading excavators China can manufacture, there is no way they can dig two miles deep and plop the spoils somewhere to be sifted for the gold. Think about it.....a two mile deep strip mine????? The Chinese are notorious for lying their butts off to save face, so I really doubt they can dig that deep, unless they are digging for BS.
Its comms of some sort.
Away from tectonic boundries the general rule is that temp rises 72 to 87 degrees F per mile. At 20m the temp is usually near the average mean temp of the atmosphere. So at a mile down the temp is somewhere near 130 F. Two miles down it would be over 200 degrees.
Well having "reserves" of anything -- gold, oil, coal, whatever -- only means that the raw material lies somewhere "down there." Economically, however, it's quite another thing to actually bring it to to surface. Known oil reserves in the US and Alaska are quite large, but at the moment, most of it is uneconomical to get to... it would cost more to drill for it and pump it than it would return in profits. Even if oil prices were double what they are now, most oil reserves will remain untapped because there would be no to little ROI (Return On Investment).
So yeah, China claiming it has "gold reserves" has no real economic meaning unless they can retrieve it.
And (as you know, I'm sure) the ECONOMIC inefficiency is only part of the problem -- the energy cost to harvest the oil is an even more important factor.
When it takes two barrels worth of energy to harvest one barrel of oil, there's not much point in continuing.
Its not unimaginable. Just go google earth and look at how massive the Grasberg mine is.
It’s like every other mining play, they have x amount of probable tonnes at the mine, but the production will be relative to what their capacity to produce is.
Per the article, they’re going to process 10,000 tonnes of ore per day, and each tonne has 4.36 grams, so they’ll produce about 43.6 kilograms of gold per day, or about 16,000 kilograms (16 tonnes) per year. At todays rate that’s over a billion dollars in gold per year… soon to be worth a lot more.