Largest known rare earth deposit discovered

The private equity company has signed a joint venture agreement with the Korea Natural Resources Trading Corporation for rights to develop rare earth element deposits for the next 25 years. The discovery of rare earth elements at this site is believed to be one of the largest deposits in the world, with initial estimates of 216.2 million tonnes of valuable rare earth elements.

Worth trillions of dollars, this deposit would nearly triple the current global known resource of rare earth element oxides.