The Xiling village gold mine in Laizhou, Shandong province, said it discovered 200 tons of gold reserves recently, bringing the cumulative gold reserves in the mine to 580 tons — a potential economic value of more than 200 billion yuan ($28.5 billion), Dazhong Daily reported on Thursday.

With the new discovery, the Xiling gold mine is said to have become the largest single gold deposit in China.