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The Ocean


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That's good news. China needs some competition in the rare earths market. For example 90% of the neodymium and dysprosium used in the rare earth magnets you find in electric cars, wind turbines and your cell phone speakers comes from China. China has been cutting productions quotas and hiking the prices to get manufacturers to move to closer to the supply (which is in China of course). Toyota is working on alternatives to neodymium since each hybrid they build uses 1kg (2.2lbs) of the stuff as I recall. Japan meanwhile has announced emergency measures to avoid being held hostage by Chinese price fixing. This is probably why it was the Japanese who discovered the deposits.

Nice find!
 
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