Rare Metal Worth Over £2,000 Per Pound Found On Japanese Island

Some lads in Japan have likely got a massive grin on their faces right now after the discovery of an abundance of rare metals including yttrium.

Yttrium is a bit like vibranium in Black Panther in that it's difficult to explain, like electricity and Catholicism, but also incredibly valuable, like both those things depending on your disposition.

A hoard of the rare metal was found on Minami-Torishima Island (often known as Marcus Island). The island belongs to Japan, despite being 1159 miles from Tokyo. You could say it's a bit weird for a country to lay claim to an island 1159 miles away from its capital. It's definitely not something us Brits would do. Deffo no.

Anyway, according to The Sun, a group of Japanese researchers found over 16m tonnes of yttrium.

Yttrium is used for all sorts, including the production of synthetic garnets, in camera lenses and in the treatment of certain cancers.

It's worth over £2,000 per pound, meaning that Japan has just got its hands on a hell of a lot of minerals with which to bolster its bargaining power on the world's trading markets.

Wikipedia Commons

Although the discovery is set to be lucrative, mining the metals is unlikely to be an easy - or cheap - process. However, it may enable Japan to provide the world with a semi-finite supply of metals.

Speaking to the The Wall Street Journal, Jack Lifton of Technology Metals Research described the discovery as a "game changer", adding that the "race to develop these resources is well under way."

The find is particularly advantageous to Japan in its trade competition with China.

Though treasure hunting may seem like a thing of the past, growing awareness of the world's lost or yet-to-be unearthed minerals remains a popular and lucrative activity for governments and private companies.

In October 2017, a British firm called Britannia (kind of a given) Gold (also) set out to recover a huge amount of gold lost during the Second World War (it was onboard a merchant ship that was sunk) worth well over £100m pounds.

As reported in Delayed Gratification, the haul - if discovered - would enrich BG's intrepid explorers, though the cost of salvaging it is itself incredibly expensive.

Topics: Science, World News, Money, Japan

Ronan O'Shea

Ronan J O'Shea is a freelance journalist from London who has written for titles including LADbible, Headspace, The Independent, National Geographic Traveller and New York Post. Contact him at [email protected].