Rare earths discovered
Generous deposits of rare earth minerals – the significant kind that is used in many hi-tech appliances – have been found on the seabed. The breakthrough discovery was made by Japanese scientists at the University of Tokyo, and it’s been estimated that as much as 100bn tons of the minerals may be present in the […]
Generous deposits of rare earth minerals – the significant kind that is used in many hi-tech appliances – have been found on the seabed. The breakthrough discovery was made by Japanese scientists at the University of Tokyo, and it’s been estimated that as much as 100bn tons of the minerals may be present in the mud of the Pacific Ocean floor. The team of geologists located minerals in the sea mud at 78 different locations, and one square kilometre (0.4 square mile) of deposits would yield one-fifth of the current global annual consumption of rare earths.
The finding is significant indeed, and could potentially herald a shift in the market and challenge China’s dominance in the field – currently the country is produces as much as 97 percent of the world’s rare earth metals.
