Tokyo, Japan, November 22, 2013 --(PR.com
)-- It is estimated that these deposits contain a total of 6.8 million tons of rare earths, enough to meet Japan’s demands for the next two centuries and more. Japan Rare Earths have negotiated the development and extraction rights for a 3 square kilometer section of these deposits and, building upon the experience and the well-developed technologies of the oil and gas industry, hope to begin meaningful extraction of rare earths from the site before the end of 2016.
The area secured by Japan Rare Earths is estimated to contain 5.9 million tons, with an average estimated total rare earth oxide grading of 16.3 percent, resulting in an estimated 960,000 tons of rare earth oxides. Neodymium content is particularly high, making up an estimated 17.6 percent of the rare earth oxides found at the site.
Japan Rare Earths's CEO Taimu Kawano commented, “We are greatly enthused by this preliminary estimate of the sites ore content, providing us with an excellent base from which to evaluate the overall economics of the property.”
Japan Rare Earths is a rare earth mining and recycling company based in Tokyo, Japan. Japan Rare Earths has a dual operational focus for the extraction of rare earth metals, developing leading edge technologies for both deep sea mineral extraction and recycling of rare earths from end of use applications.
Japan Rare Earths have negotiated the development and extraction rights for a 3 square kilometer section of rare earth deposits discovered on the Pacific Ocean floor near the uninhabited Japanese island of Minamitorishima, which lies around 1,800 kilometers to the southeast of Tokyo. The deposit, which resides within Japan’s exclusive economic zone, is estimated to contain 6.8 million tons of rare earths, enough to meet Japan’s growing demand for more than 200 years.
Japan Rare Earths is also committed to the recovery of previously used rare earth metals and has applied existing and developed new proprietary processes to recycle rare earths from waste products such as energy saving light bulbs, magnets, computers, air conditioners and batteries.