A mineral deposit with gold reserves totaling 50 tonnes has been discovered in northwest China's Xinjiang Uygur Autonomous Region, local authorities said Friday.

The deposit was discovered at the Dunde Iron Mine in Hejing County after six years of exploration, said Zeng Xiaogang, head of the region's geology and mineral resources bureau.

The deposit is believed to have a potential economic value of 100 billion yuan ($16.3 billion), as its mineral resources include 187 million tonnes of iron and 1.5 million tonnes of zinc, according to Zeng.

Feng Jinxing, leader of a geological exploration team from the bureau, said the team has been exploring the area since 2007.

The exploration is ongoing and a mining plant is being constructed in the area that will provide over 2,000 jobs, Zeng said.