A new report published in Scientific Reports says that deep sea mud off the coast of Japan contains enough rare earth metals to supply the world for several centuries.
The study says that the mineral deposit, located within Japan’s economic zone, contains 16 million tons of rare earth oxides, enough to meet the demand for yttrium for 780 years, europium for 620 years, terbium for 420 years and dysprosium for 730 years. These earth elements are used in technology such as smart phones, electric cars, rechargeable batteries and touchscreen display panels.
The deposit “has the potential to supply these metals on a semi-infinite basis to the world,” the study concludes.
The mineral find could be a game changer for electronics manufacturers, which, until now, had been forced to rely on China, the world’s largest supplier of such elements. In 2010, China cut its export quotas on rare earth minerals by 40% and global prices soared. The quotas were later dropped after complaints were taken to the World Trade Organization.
The minerals, found almost 6,000 metres below sea level near Japan’s remote Minamitori Island about 1,800 kilometres southeast of Tokyo, are not easy to get to. The researchers who published the latest report said more study on developing the resource and economic evaluations is being carried out by industry, academia and the Japanese government.
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