Rare metals discovery on remote Pacific atoll is worth billions of dollars
Foxnews.com reports that 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 astudy publishedin 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.”