NextShark
A survey by the University of Tokyo and The Nippon Foundation from April 24 to June 9 has uncovered a vast deposit of rare earth metals worth an estimated $26.3 billion near Minami-Torishima Island. Located 3.5 miles (5,700 meters) below sea level, the deposit contains approximately 230 million tons of manganese nodules rich in cobalt and nickel, crucial components for electric vehicle batteries and other technologies. Semi-infinite supply: Researchers noted during the announcement of the discovery in July that the deposits could supply Japan's cobalt needs for 75 years and nickel needs for 11 years, significantly reducing the nation's reliance on imports.