Gold deposits of China: Resources, economics, environmental issues, and future perspectives

China ranks as the world's largest gold producer and as the second largest gold consumer since the last few years and hosts one of the fastest growing gold markets in the world. The gold mineralization in China has been divided into several super‐large (>100 t Au), large (50 to 100 t Au), and numerous medium to small (20 to 50 and <20 t Au) deposits. Geologically, these are classified into different types such as gold‐only deposits, base metal‐rich type including skarn, porphyry, and vein deposits, and placer accumulations. Integrated genetic models based on geological investigations propose that the gold deposits formed through multiple stages of subduction–accretion–collision associated with different orogenic cycles, with most of the giant gold deposits related to extensive lithospheric destruction and recycling. China has a long history of gold mining starting from the days of the Xia, Shang, and Zhou Dynasties at ca. 2,100–256 bc , which further flourished in the “Silk Road” era, although in the modern times, the country was “officially” reported producing hardly 2 tons of gold for nearly 40 years until a major revival occurred between 1982 and 1993, with a dramatic increase to 160 tons per year. According to recent statistics, China ranks as the world's largest producer of gold with over 460 tons, contributing significantly to the growth of world gold production. In the Asian region, 91% of gold production comes from China and five other countries, with China contributing the major share. With regard to gold consumption, the amount of gold bought in China rose steadily over the past several years from around 204.5 tons in 2002 to 832.18 tons in 2012. Among the various forms of gold jewellery in China, fine gold is the most popular, with 24 K gold accounting for more than 80% of the gold jewellery sold in the country. Studies identify a positive relationship between the rate of technical expertise and economic growth in state‐owned and mixed sectors of gold industry in China. Attracting more private investment into capital‐intensive and state‐owned sectors is considered to help boost the mining industry. China's gold output sustained the world gold market even during the global financial crisis in other bulk commodities. Quantitative analysis in recent studies reveals a power‐law cross‐correlation between price and volume in gold spot and futures markets and predicts long‐term stability despite short‐term fluctuations. Extensive mining activities invariably raise environmental issues and anthropogenic health hazards. With the country announcing the discovery of new gold deposits, such as the biggest ever gold mine in Shandong with gold resources valued more than $22 billion, and moving forward to new horizons in gold mining and production, insightful policies from decision makers are important in the areas of promoting research and development in academic and technical fields, involving technical expertise and advanced technology in gold mining and processing, and implementing strict regulations for environmental protection.