Geological workers have discovered a large gold mine in Xinjiang Uyghur Autonomous Region, officials said Tuesday.

With reserves of at least 53 tons, the mine in Xinyuan county is expected to have an economic value of 20 billion yuan ($3.2 billion), said Zeng Xiaogang, head of the region's geology and mineral resources bureau.

It is 3 kilometers long, going from depths of 60 to 300 meters and also holds 31,200 tons of copper.

Zeng said the bureau, in cooperation with the Meisheng Group based in South China's Hainan Province, took five years to find the mine, finally confirming its location on May 13.

The group has invested nearly 150 million yuan in the project, which is expected to be put into operation by the end of 2015. Its annual gold production capacity is expected to reach three tons, or 1 billion yuan of production value every year, according to Zeng.

It is the second large gold mine discovered in the Ili Valley following one with gold reserves of 50 tons found in 1988.

Xinhua – Global Times