An underwater bonanza of rare earth deposits discovered by Japanese scientists poses little threat to miners already developing major rare earth projects on solid ground.
Companies such as Molycorp, Lynas and Avalon Rare Metals may rest assured that developing the offshore bounty could take decades and cost billions, making it little more than a pipe dream, analysts say.
Lithium miners are reaping the benefits of a political and industry push to get more electric vehicles on the road, with shares in some Canadian-listed miners up more than 50 percent in the past two months.
Four major producers have long dominated lithium output and demand is likely to double in the next 10 years as automakers roll out hybrid and electric cars using lithium-ion batteries.
