USA HISTORY

Detailed explanation-1: -About 244, 000 metric tons of gold has been discovered to date (187, 000 metric tons historically produced plus current underground reserves of 57, 000 metric tons). Most of that gold has come from just three countries: China, Australia, and South Africa.

Detailed explanation-2: -World’s Largest Deposits of Gold The massive deposits of the Witwatersrand mines in South Africa have produced more than 40 percent of the world’s total production of gold. The origin of these ancient ores–several billion years old–is controversial.

Detailed explanation-3: -Considered by most authorities to be the biggest gold nugget ever found, the Welcome Stranger was found at Moliagul, Victoria, Australia, in 1869 by John Deason and Richard Oates. It weighed gross, over 2, 520 troy ounces (78 kg; 173 lb) and returned over 2, 284 troy ounces (71.0 kg; 156.6 lb) net.

Detailed explanation-4: -A lode is a metal-bearing deposit found embedded between layers of bedrock. Lode deposits occurring in igneous or metamorphic rocks commonly contain gold and silver, while lode deposits in sedimentary rocks often contain iron or uranium ore. The extraction process for lode deposits is hard rock mining.

Detailed explanation-5: -Australia and Russia hold the largest reserves of gold Australia and Russia hold a large share of the world’s gold mine reserves, accounting for 8, 400 metric tons and 6, 800 metric tons, respectively. Worldwide, the production of gold reached an estimated 3, 100 metric tons in 2022.