Zhaoyuan gold mining?town [Photo/Yantai Travel Network]

Yantai has made breakthrough in gold prospects over the past three years. Newly-discovered gold increased by 648 tons, making the city the third largest gold field worldwide. The discovered gold reserves in Laizhou and Zhaoyuan reached 3,432 tons.

Since 2011, Yantai has carried out a strategic mine searching plan. With 1.06 billion yuan ($172.47 million) in investment, seven types of minerals were discovered in Yantai, including gold, iron and coal. Gold reserves increased by 648 tons; iron ore grew by 3.34 million tons; and coal rose by 83.08 million tons.

Gold reserves at two mine fields in Laizhou and a mine field on Sanshan Island ranked the top three in China. The number of large mine areas, each with more than 50 tons in gold resources, increased. Two mine areas in northwest Yantai were reported to have discovered more than 700 tons of gold reserves.

The world's top two largest gold mines are in South Africa and Russia.