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| China-Japan-Koreas |
| Treasure island: Rare metals discovery on remote Pacific atoll is worth billions of dollars |
| 2018-04-19 |
| More on the RE deposits found around around Japan. Seems like they're about to be everyone's friend pretty soon. Well, almost everyone's. The discovery of vast reserves of rare-earth elements on a tiny Japanese island, that can be used in everything from iPhones to missile systems to electric vehicles, has been described as a "game changer." Minami-Torishima Island, also known as Marcus Island, is described as having "tremendous potential" for rare-earth elements and yttrium (REY), according to a study published in Scientific Reports. "This REY-rich mud has great potential as a rare-earth metal resource because of the enormous amount available and its advantageous mineralogical features," the study reads. The study shows that more than 16 million tons of rare-earth elements could be "exploited in the near future." Including ytrrium (Y), which is used in products like camera lenses and mobile phone screens, the rare-earth elements found are: Europium (EU), Terbium (Tb) and Dysprosium (Dy). "The research area was estimated to be able to supply Y, Eu, Tb, and Dy for 780, 620, 420, and 730 years, respectively, and has the potential to supply these metals on a semi-infinite basis to the world," the report adds. The metals are expensive, making the find extremely valuable, with some estimates putting the value of the island's rare earth oxide alone at approximately $500 billion. Yttrium is currently worth $3,400 per pound, Europium costs $20,000 per 100 grams and Terbium sells for $1,800 per 100 grams. Dysprosium, the cheapest of the rare-earth elements discovered, only costs $450 per 100 grams. The sample size was estimated to contain 1.2 million tons of "rare-earth oxide." The study was conducted jointly by researchers with Waseda University Yutaro Takaya, and Yasuhiro Kato of the University of Tokyo and others. In an interview with The Wall Street Journal, Technology Metals Research LLC founding principal Jack Lifton said, "this is a game-changer for Japan," adding, "The race to develop these resources is well under way." Though it would likely be expensive to remove the rare-earth materials from the island, it would give Japan and the world, more control over these elements, which are used in products such as rechargeable batteries, wind turbines, and many medical and military technologies. China held approximately 95 percent of the rare-earth production as of 2015, according to CNN. The country severely restricts exports of these elements at times of diplomatic tension, including a shortage in 2010 for Japanese manufacturers, news.com.au reported. |
| Posted by:gorb |
| #13 Or do the Russians have another missing sub? Did they finally find Andrei? |
| Posted by: gorb 2018-04-19 21:38 |
| #12 Geez fellas I thought that was what all the shooting was about in Angola Next you'll try to tell me those were not Cubans I was shooting Or all those stories about manganese nodules on the ocean floor weren't cover for the Golmar Explorer Or do the Russians have another missing sub? |
| Posted by: Sock Puppet of Doom 2018-04-19 20:00 |
| #11 I think Abu has it right. |
| Posted by: Rambler in Virginia 2018-04-19 19:46 |
| #10 #3 the marginalisation of indigenous peoples and their rights deep sea mining? Aquaman and Namor are gonna be pissed. |
| Posted by: charger 2018-04-19 19:19 |
| #9 LOL, Skid. |
| Posted by: g(r)omgoru 2018-04-19 17:34 |
| #8 Looking for the Europium prices to drop after Brexit. |
| Posted by: Skidmark 2018-04-19 17:26 |
| #7 Minami-Torishima Island, also known as |
| Posted by: Frank G 2018-04-19 16:03 |
| #6 "Release the |
| Posted by: SteveS 2018-04-19 15:49 |
| #5 the marginalization of indigenous peoples and their rights Those poor Merpeople. |
| Posted by: DarthVader 2018-04-19 15:46 |
| #4 China will claim the island and make a big stink about it. |
| Posted by: Abu Uluque 2018-04-19 15:44 |
| #3 the marginalisation of indigenous peoples and their rights deep sea mining? |
| Posted by: g(r)omgoru 2018-04-19 15:39 |
| #2 An article in the Harvard Environmental Law Review in April 2018 argued that "the 'new global gold rush' of deep sea mining shares many features with past resource scrambles – including a general disregard for environmental and social impacts, and the marginalisation of indigenous peoples and their rights".[12][13] --Deep Sea Mining, Wikipedia Ambulance chasing Lawyers, Start Your Engines! NGOs and QUANGOs, Spruce up your resumes -- its Showtime! |
| Posted by: magpie 2018-04-19 15:30 |
| #1 waiting for a "green" group stealth funded by China to protest mining this. |
| Posted by: Bright Pebbles 2018-04-19 15:05 |