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| Japan has identified a large rare earth deposit of its own, but it’s not going to change global supply dynamics. Here’s the situation.
Rare earths are typically a byproduct, so the bottleneck isn’t ore access; it’s processing capacity. And China has a monopoly on the processing. Japan may have found a massive deposit, but that’s just step one. The deposit is located near Minamitorishima Island, under 8km of water, and extraction just isn’t economically viable as of now.
This is just another example of Japan having to get creative with the hand it’s been dealt. |
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