16 Million Tons In Japan Discovers Island Containing
Posted [relativedate] at [relativetime time_format=”H:i”]
The latest discovery of island belonging to Japan has triggered a global debate. This is by far the largest discoveries of rare-earth minerals in the 21st century, Japanese researchers said. According to the reports, the seabed surrounding the island, located 1,200 kilometers from the coast of Tokyo consists nearly 16 million tons of rare-earth minerals.
Many believe that this could bring back the Japanese government back into prosperity, after a year of financial breakdown. Though rare-earth minerals are present in abundant quantities in the earth’s crust, they are not economically feasible to mine.
According to government agencies, rare-earth minerals like yttrium, europium, terbium, dysprosium, and many others are present. Researchers estimate that these minerals could meet the needs of global demand for the next 400-780 years depending on the type of mineral.
Currently, China is leading in the rare-earth minerals sector. Given the exclusivity of these minerals, China has been charging exorbitant prices. With the latest discovery in Japan, analysts expect that the prices for rare-earth minerals based products are likely to come down.The mining of this gigantic mineral reserves might start within 6-8 months.
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