Experts are calling this discovery a game changer for Japan’s economy.
Tokyo: Japan has revealed an unprecedented discovery of rare earth minerals beneath the Pacific Ocean. This is a discovery that could reshape Japan’s economy. Not only that, but this discovery could also alter the balance of global supply chains for rare earth elements. These reserves, valued at a staggering $26 billion (21,609,566,975,00 rupees), were located near Minami-Tori-Shima Island, about 1,200 miles from Tokyo. This discovery could challenge China’s dominance in the rare minerals market.
This rare treasure is buried in the sea.
These massive deposits, buried 5,700 meters below the sea floor, are estimated to contain 230 million tons of rare earth elements, including cobalt and nickel – key components in the production of electric vehicle (EV) batteries and other advanced technologies.
This discovery was made possible through a collaborative survey conducted by the Nippon Foundation and the University of Tokyo using state-of-the-art remotely operated underwater vehicles.
What minerals have been discovered?
According to the report, the manganese nodule area was first identified in 2016, but it has recently been mapped in detail. The study of this area has revealed the incredible extent of the reserves, which include 610,000 metric tons of cobalt and 740,000 metric tons of nickel. These minerals are crucial not only for EV batteries but also for jet engines, gas turbines, and various high-tech manufacturing processes. Additional traces of copper were also found, enhancing the economic potential of the site.
Rare Earth minerals and Japan’s future
Cobalt and nickel are essential elements for modern industries. Their role is particularly significant in energy storage systems and green technologies. As countries around the world move towards a sustainable energy future, the demand for these metals is skyrocketing.
Japan’s newly discovered reserves could significantly reduce the country’s dependence on foreign imports. By tapping into these reserves, Japan has the opportunity to establish a self-sufficient supply chain, strengthen its domestic industries, and position itself as a global leader in technology and manufacturing.
A big boost for Japan’s economy
Experts are already calling this discovery a game changer for Japan’s economy, with potential long-term benefits extending far beyond raw material extraction. According to Professor Yasuhiro Kato of the University of Tokyo, the mining process will prioritize environmental sustainability. There are plans to begin extraction in 2025, with several thousand tons expected daily.
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