Researchers have located huge deposits of rare-earth metals in seabed mud off the Japanese island Minamitorishima, located 1,150 miles southeast of Tokyo. The discovery could have a major impact on both the Japanese and the world economy. Rare-earth metals are essential to modern technologies and are used in smartphones, hybrid vehicles, rechargeable batteries, wind turbines, light emitting diodes, compact fluorescent lamps, screen display panels, and many medical and military technologies.
In recent years, China has had a near monopoly on the production of rare-earth metals, extracting 85 to 95 percent of the world’s rare-earth metal supply from large clay deposits in the country’s south. Despite their name, rare earth metals are actually not particularly rare although they are difficult to find in deposits from which they can be economically extracted.
The discovery of the rare-earth deposits off Japan is being described as “game-changer.” In a paper published last week, the new deposits may contain a “semi-infinite” supply of rare-earth materials. Specifically, they estimate that there maybe 780 years worth of yttrium, 620 years worth of europium, 420 years worth of terbium, and 730 years worth of dysprosium, in the mud of the Japanese deposits.
Now whom will declare it as their territory?
Japan was making plans to mine it last year.
We have rare earths in the U.S, but they closed the mine. Maybe costs or we want to use other countries first.
The USA mine became bankrupt and was then sold last June so may be producing again when they get their act together.
Willy shares my thoughts that a country who’s name begins with C (and ends in hina) will be extending its claimed territorial waters any day now.
Belay that idea that the USA mine would start producing again, further reading tells me it has been bought by a Chinese company. Well that’s a surprise.