Japan Finds Rich Rare Earth Deposits on Seabed

Japan has found a rich deposit of rare earths with highly concentrated amounts of the precious minerals on the Pacific seabed, said Japanese researchers in a statement.

This discovery is essential for developing high-tech manufacturing and Japan faces the task of securing the supplies, said Tokyo researchers, AFP reported.

Japanese media suggest that the concentration of minerals is 20 to 30 times higher than that from Chinese mines, on which the island country depends.

Currently China is the source of around 90 percent of the world’s supply of rare earths.