September 23, 2026David GellesIndustry NewsThe Man Who Wants to Mine the Ocean FloorA profile of Gerard Barron, CEO of The Metals Company, and his decade-long pursuit of commercial deep-sea mining. The piece examines TMC's plans to harvest polymetallic nodules from the Clarion-Clipperton Zone, the regulatory battles at the International Seabed Authority, and the environmental controversy surrounding seabed extraction — as the company pushes toward becoming the first to mine international waters at commercial scale.
September 18, 2026Peter CookIndustry NewsJapan Is Shaking Up Deep Sea Mining by Adding Rare Earth Elements to the MixGeologist and critical mineral policy adviser Peter Cook highlights Japan's distinctive approach to deep-sea mining: targeting rare earth elements (REEs) from seafloor sediment and mud near Minamitorishima, rather than the polymetallic nodules that dominate most deep-sea mining discussions. The Japanese vessel Chikyu has successfully retrieved mud samples using the pump system intended for commercial production. Cook notes that past studies indicate REE concentrations in Japan's EEZ are comparable to ionic clay adsorption deposits in China (~400–8,000 ppm), seafloor sediments are low in radioactive minerals, and acid leaching can increase grade up to 260% with recovery rates over 90%. Commercial viability depends on extraction volume — pumping seafloor mud is estimated at twice the cost of conventional mining, requiring ~3,500 tonnes per day to be economic. The area around Minamitorishima alone is estimated to contain 16 million tonnes of total rare earth oxide, surpassing the reserves of all countries except China and Brazil.
September 18, 2026Shane LasleyIndustry NewsRare Earth Markets Face a Pricing ParadoxS&P Global Market Intelligence says government intervention is creating a rare earths pricing paradox — building ex-China supply chains, but splitting rare earths into two increasingly distinct markets with distorted spot pricing mechanisms that may undermine long-term sustainability.
August 26, 2026James MickleboroIndustry NewsLynas Rare Earths Posts Record FY26 Profit and Revenue as Growth Ramps UpLynas Rare Earths (ASX: LYC) reported record FY26 revenue of $977.9 million (up 76%) and NPAT of $222.4 million, a dramatic turnaround from $8.0 million the prior year. EBITDA rose 282% to $386.0 million. NdPr production reached 7,260 tonnes and the average selling price hit a record $80.7/kg. The company completed a $750 million institutional placement and $182 million share purchase plan to fund its Towards 2030 growth strategy, renewed its Malaysia operating licence for 10 years, and signed supply agreements with Japanese and US customers featuring price floors. A global CEO search is underway following Amanda Lacaze's retirement.
August 25, 2026NikkeiPolicy & RegulationGovernment to Provide Long-Term Support for Economic Security Technologies; Investment of Hundreds of Billions of Yen Envisioned for Minami-Torishima Rare Earths ProjectJapan's Cabinet Office is reforming its support systems for economic security technology development, enabling long-term funding exceeding five years and short-term intensive projects. A key focus is rare-earth resource development off Minami-Torishima, where an investment of several hundred billion yen is under consideration. Plans include converting a vessel into a dedicated ship to extract rare-earth-bearing mud from the seabed. The government aims to establish a domestic production system as a countermeasure against reliance on China, with economic viability taking a back seat to national security priorities in the initial phase.
July 24, 2026Nikkei (via Japan-NRG Weekly)Industry NewsJapan Confirms Heavy Rare Earths in Seabed Mud Near a Remote Pacific IslandJapan's Cabinet Office confirmed that seabed mud recovered near Minamitorishima — a remote Pacific island in Japan's EEZ — contains a high share of medium and heavy rare earths, including yttrium and dysprosium. In a three-day test beginning February 1, the deep-sea drilling vessel Chikyu recovered 50 tons of mud from 5,600 meters depth. Analysis showed medium and heavy rare earths accounted for 54% of the rare earth composition (yttrium 29.9%, gadolinium 4.9%, dysprosium 4.6%, neodymium 18.4%). Environmental pollution risk from the lifting process was considered low. A large field test in February 2027 will lift mud, ship it to the mainland, and test the full separation-to-smelting process at industrial scale. The Cabinet and private sector partners aim to assess economics by late FY2027 and target industrialization from FY2028.
January 31, 2026DanielPolicy & RegulationCan Tariffs Help Smelt Terbium? What Are Washington's Latest Rare Earth Moves?The Trump administration is expected to urge allies to consider tariffs on Chinese rare earths as an alternative to price floors or direct subsidies — a move expected to surface at a Washington meeting attended by Australia's resources minister. Rare Earth Exchanges argues that tariffs alone won't build the 'missing middle': China's dominance lies in chemical separation and processing, not mining. Without synchronized investment in separation infrastructure, permitting reform, experienced operators, and bankable offtake agreements, tariffs risk remaining symbolic gestures while the chemistry quietly waits.
January 28, 2026Shotaro Tani and Yuichi ShigaPolicy & RegulationInside Japan's Long Battle to 'De-Chinafy' Its Rare Earth Supply ChainA deep dive into Japan's multi-decade effort to reduce dependence on Chinese rare earths, stung into action by Beijing's 2010 export ban. The piece traces government and industry initiatives — from stockpiling and overseas mine investments to the January 2026 departure of the research vessel Chikyu from Shimizu Port toward Minamitorishima, tasked with recovering rare-earth-rich mud from 6,000 meters beneath the Pacific. Japan's strategy spans diplomatic cooperation with Australia and other allies on critical mineral supply chains, domestic processing investment, and seabed resource development — all aimed at breaking China's grip on the materials essential to EVs, defense, and clean energy.
August 6, 2025Elyse HauserIndustry NewsHow the US Funded Deep Sea Mining in the Cook IslandsMore than a decade ago, under the Obama administration, the US government made an ambitious investment in an experimental industry: deep sea mining — hiring Deep Reach Technology to find out whether mining rare earth minerals from deep sea mud was possible.
