Japan's $26 Billion Discovery Could Change Its Fortunes

[Judi Lynn]

Published Nov 21, 2024 at 9:41 AM EST
Updated Nov 21, 2024 at 9:11 PM EST

By Micah McCartney
China News Reporter

Japanese researchers have uncovered 230 million tons of manganese deposits, rich in metals vital for electric vehicle batteries and smartphones, boosting the country's push for supply chain independence.

The discovery was made on the ocean floor off Minami-Torishima Island, situated about 1,200 miles southeast of Tokyo, by researchers from the University of Tokyo and the nonprofit Nippon Foundation.

The underwater mineral field contains 740,000 metric tons of nickel and 610,000 metric tons of cobalt. This is enough to meet demand in Japan for 11 and 75 years, respectively, according to the researchers.

Nickel and cobalt are widely used in renewable energy storage systems, particularly in lithium-ion battery chemistries, while cobalt is essential for rechargeable batteries in consumer electronics and plays a role in semiconductor production. Both metals, as well as manganese, are critical for technologies such as lithium electric vehicle (EV) batteries.

More:
https://www.newsweek.com/japan-news-26-trillion-discovery-1989347

[brush]

1. Nice discovery but 26 billion doesn't go very far nowadays in terms or years...

for an advanced nation's economy.

[NJCher]

2. who cares

in 11 or 75 years, something else will evolve.

[brush]

3. In that time frame that 26 B will be long gone.

A distant memory.

[Bernardo de La Paz]

4. Self-sufficiency is desirable & prices might rise making it a bigger portion of the economy

We can be reasonably certain there will be increased demand. If tech comes on stream like it might for non-NI non-Co -- perhaps iron Fe tech -- that would still be many years (but not decades) away from deployment given that it took decades for Li Ni Co tech to deploy as it has.

If there is increased international tension / conflict there will be further rise in prices and self-sufficiency becomes even more desirable.

[2naSalit]

5. If...

We're all still here in five years, I will be surprised.

[GreenWave]

6. Good for them!