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OCEANIA AND RARE-EARTH METAL

Indeed, the research suggests that at one site in the central North Pacific, an area of just one square kilometre could meet a fifth of the world's annual consumption of rare metals and yttrium.
Lab tests show the deposits can be simply removed by rinsing the mud with diluted acids, a process that takes only a couple of hours, and, would not have any environmental impact so long as the acids are not dumped in the ocean. At the moment, the question is whether the necessary technology can be put into place for recovering the mud at such great depths - 4000 to 5000 metres - and, if so, whether this would be commercially viable.
It is perhaps worth mentioning that about 30 years ago, a German mining company succeeded in recovering deep-sea mud from the Red Sea. This suggests that it is technologically most probably that deep-sea mud in the Pacific region can be economically developed as a valuable mineral resource with minimal environmental damage.
The impetus
for mining rare-earth metal from the floor of the vast Pacific Ocean has
largely come about as a consequence of China slashing export quotas,
consolidating the industry and announcing plans to build national reserves,
citing environmental concerns and domestic demand. These moves led to a fall
of 9.3 per cent in China's exports of rare-earth metals, triggering
complaints abroad of strategic hoarding and price-gouging.


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