China produces 97% of rare earth metals, but now Japan discovered 100bn ton

At present, China produces 97% of the world’s rare earth metals.
But Japanese researchers say they have discovered vast deposits of rare earth minerals, used in many hi-tech appliances, in the seabed.

If recovering the minerals from the seabed proves commercially viable, it is enough for hundreds of years.

http://www.bbc.com/news/world-asia-pacific-14009910