The latest news shows that Japan has confirmed that there are a large number of high-concentration rare earth mineral resources in the waters around Nantuo Island. In the words of Japan, "these resources are available for 230 years in Japan, and the rare earth grade is about 20 times higher than that of Chinese rare earths."
Japan has long imported rare earth resources from China, and China supplies 90% of the world's market with one-third of its global rare earth reserves. At the moment, this pattern is likely to change. According to Japanese media reports, the rare earth reserves of Japanese deposits are more than 10 times that of China's onshore deposits, allowing Japan to spend hundreds of years. Professor Lin Boqiang, director of the Energy Economic Research Center of Xiamen University, believes that Japanâ€™s discovery of resources, on the other hand, is in line with Chinaâ€™s need to implement quota management in rare earth exports.
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