Chinese scientists have uncovered a "supergiant" deposit of high-quality gold ore hidden near some of the country's existing gold mines.

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.

Officials say that a gold field deposit in Hunan province could yield over 1,000 tonnes of the precious metal.

The world's largest gold deposit has been discovered in China's central Hunan province - and geologists believe it could hold 1,000 tonnes of the precious metal. At current prices this 'supergiant gold deposit' could be worth more than $80 billion (£63bn),

In a remarkable feat for the mining industry, a team of geologists in central China has uncovered what is being hailed as the world’s largest gold deposit, valued at a staggering US$83 billion (approximately 600 billion yuan).

China is already a dominant player in the global gold market, boasting reserves in excess of 2,000 tons, according to latest estimates.