Scientists in Japan have discovered a wealth of rare earth metals, which could ensure the country’s economic growth for at least the next decade. The rare earth metals are in the form of manganese balls and contain millions of metric tons of cobalt and nickel. Cobalt and nickel are key materials for electric vehicle batteries and are used in jet engines, gas turbines, and chemical processes.
The discovery was made 1,200 miles from Tokyo and could be worth $26 billion. Japan plans to extract three million tons of these deposits annually.