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Goodbye Rare Earth Minerals, Hello Not So Rare Underwater Minerals: Vast ___ Oxide Deposit Discovered In Pacific Seabed

Tyler Durden's picture




 

Two weeks ago we demonstrated what happens to prices of so-called "rare" earth minerals, which are almost exclusively controlled by China, and whose exports China recently decided to cut to a mere trickle, resulting in a 10+ fold increase in some of the most rare minerals in under a month. It also has allowed the third R bubble to persist as long as it has. It appears that the bubble is about to pop big time. According to Nikkei, "Vast deposits of rare earth minerals have been discovered on the seabed of the Pacific Ocean amounting to 1,000 times those on land, media reported on Monday citing a study by Japanese researchers." Of course, this could merely be one of those not quite definitive discoveries, which end up being disproven eventually, but which serve to merely pop a temporary speculative bubble. Just like the IEA. In the meantime, it may be time to temporarily erase the Rare from Rare Earth Minerals, and change Earth to Underwater.

Reuters has more:

The deposits are estimated to amount to 100 billion metric tons, the Nikkei business daily said.

They are believed to lie at a depth of 3,500 to 6,000 meters and cover an area of over 11 million square meters, the reports said.

China, which produces 97 percent of global rare earth supplies, has been tightening trade in the strategic metal, which is used in high-tech electronics, magnets and batteries, causing concerns globally about supply and triggering jumps in prices.

The study by researchers from the University of Tokyo and the Japan Agency for Marine-Earth Science and Technology is to be published on Monday in the online edition of the British science magazine Nature Geoscience, the reports said.

Japan's imports of rare earths from China fell 3 percent in May from April, the first month-on-month drop in three months, as the price of the metal surged, Japan's finance ministry said last month.

Demand could pick up later in the year as Japan continues to recover from the March 11 earthquake.

To those who say that this is very much like the US announcing there has been a record discovery of crude oil under the Marriner Eccles building, we would say you are spot on. But then again for the Japanese "recovery" scenario to proceed as expected, the prices of the commodities on the charts below have to drop by about 90% if the global economy has to have any chance of returning to a growth trendline. Otherwise, this may be yet another insurmountable bottleneck for the propaganda upside case courtesy of China.

 

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Sun, 07/03/2011 - 22:18 | 1423376 GoinFawr
GoinFawr's picture

Hunh. Arrrrr any idea which REE's we's talkin' 'bout? Oh I hear there's lots of gold in seawater too m8ie, or even just lying around on the bottom of the briny deeps, harrrr: http://en.wikipedia.org/wiki/List_of_missing_ships

Davey Jones, whatchew be hidin' in that locker, scurvy dog that y'harrr.

Mon, 07/04/2011 - 01:04 | 1423588 DaveyJones
DaveyJones's picture

Shhhhhh. The Japanese have had enough bad luck with seawater

Mon, 07/04/2011 - 03:27 | 1423691 zuuuueri
zuuuueri's picture

there's probably plenty of cesium there for the taking... 

Mon, 07/04/2011 - 06:01 | 1423747 falak pema
falak pema's picture

Polynodules... Old story... being resuscitated. The french got interested in this 40 years ago...then it went dead... I wonder...

Mon, 07/04/2011 - 11:22 | 1424281 Solid
Solid's picture

There elements, not minerals!

Sun, 07/03/2011 - 21:54 | 1423379 Vlad Tepid
Vlad Tepid's picture

Now If I can just get down there with my $5 shovel...

Sun, 07/03/2011 - 21:58 | 1423385 Misean
Misean's picture

China is restricting the export of said shovels.

Sun, 07/03/2011 - 21:58 | 1423388 Squishi
Squishi's picture

ROFL

Sun, 07/03/2011 - 22:21 | 1423419 Big Corked Boots
Big Corked Boots's picture

For a moment there I thought you were going to tell us it costs only $5 to dig it out of the ground... or out of the seafloor...

Sun, 07/03/2011 - 22:27 | 1423422 francis_sawyer
francis_sawyer's picture

Translation:

Jamie & Lloyd went "short" MCP & REMX on the Friday close...

Mon, 07/04/2011 - 02:10 | 1423634 Anonymouse
Anonymouse's picture

Two thoughts:

- Resurrection of the "Law of the Sea Treaty" / huge source of power and income for the UN

- Naval superiority / naval warfare may be the word of the day

Mon, 07/04/2011 - 09:59 | 1424052 Manthong
Manthong's picture

Yes, naval superiority.

We have the technology and armaments to overcome the Reigo problem.

http://www.youtube.com/watch?v=c-pa0ha7Ngo

Sun, 07/03/2011 - 21:59 | 1423389 GoldmanSux
GoldmanSux's picture

More like short hedge funds planting a load of crap on a Sunday night when markets are closed Monday, but the stocks trade in Canada.

Sun, 07/03/2011 - 22:02 | 1423394 slow_roast
slow_roast's picture

Do these Rare Earths in the ocean happen to lie about 100 yards offshore from the Fukishima plant? 

Sun, 07/03/2011 - 22:31 | 1423426 Sabibaby
Sabibaby's picture

Some of those Rare Earths off the shore of Fukushima are actually "Not Of This Earths"

Mon, 07/04/2011 - 02:31 | 1423657 Sudden Debt
Sudden Debt's picture

You can all buy them on Ebay.

I've even seen a Child Urine sample in a plastic bottle THAT GLOWS IN THE DARK FOR THE NEXT 5000 YEARS! FOR ONLY 2.99$ !!!

Sun, 07/03/2011 - 22:05 | 1423396 Boston
Boston's picture

Speaking of discoveries in Asia, how about this one:

 

Radioactive Cesium Is Found in Tokyo Water

 

http://www.bloomberg.com/news/2011-07-04/radioactive-cesium-is-found-in-tokyo-water.html

Sun, 07/03/2011 - 22:12 | 1423409 Cognitive Dissonance
Cognitive Dissonance's picture

Don't worry. It's transitory. It's always transitory......even when it isn't.

Mon, 07/04/2011 - 01:33 | 1423613 Stuck on Zero
Stuck on Zero's picture

No problem.  It's quite efficiently filtered out of the water and concentrated in kidneys and livers.

Mon, 07/04/2011 - 04:01 | 1423710 chumbawamba
chumbawamba's picture

Some minerals in the water supply never killed anyone.  Free vitamins!

I am Chumbawamba.

Mon, 07/04/2011 - 07:08 | 1423774 zhandax
zhandax's picture

Life is transitory....you won't care about any of this shit once you are dead.

Mon, 07/04/2011 - 14:14 | 1424762 oldman
oldman's picture

Dear zhandax

That is a real 'do-nothing' point of view if I have ever heard one.

It is also one of the thoughts that has crossed my mind

But there are so many of them that it requires too much energy to focus upon one except the thought of 100 40-year planned life nuclear plants reaching their 40th birthday

But I suppose I'm just an old 'leftie', tree-hugging, eco-nut piece of shit

Oh, well---------------------------------------------

Sun, 07/03/2011 - 23:36 | 1423510 jse111
jse111's picture

Well folks the good news is that Cesium 137's half life of 30-years is far less than Plutonium 239's half life of 24100 years.  The bad news is that a 30-year half life of an ingested radioactive substance in any significant quantity is potentially a death sentence.

Additionally, the greater Tokyo metropolitan area holds in general terms 25% of Japan's total population.  Furthermore, the demographics of Tokyo are markedly younger than Japan's mean age calculation.  Younger individuals are progressively more sensitive to radiation's devastating effects than the Weekend at Bernie's set.

For those that suggested early on that the entire island required evacuation, you appear far less histrionic as this catastrophic incident develops.  Lastly, Arnie Gundersen has reported that technology to rid ground water of radiation contamination does not currently exist and likely will not for at least 10-years and probably longer.

I am not expert enough to offer remedial suggestions other than departure while still able appears prudent in context.  I sincerely wish I could do more.

Why must it be this way!

 

Mon, 07/04/2011 - 00:58 | 1423582 Oh regional Indian
Oh regional Indian's picture

Excellent points jse.

As one of the early histericalists, i feel horribly vindicated. And this is when the "truth" is still really deeply hidden.

Why must it be this way?

Cycles. Plain and simple and irresistable.

ORI

http://aadivaahan.wordpress.com/2011/06/28/thoughts-and-a-heads-up/

Mon, 07/04/2011 - 04:34 | 1423721 Escapeclaws
Escapeclaws's picture

No, not cycles, but this:

The evil that men do lives after them,
The good is oft'intered in their bones.

Mon, 07/04/2011 - 00:58 | 1423583 alexdg
alexdg's picture

The good news is that this is actually old news, so part of that half-life has already passed by, only 24100 years minus 2 weekes to go!

Mon, 07/04/2011 - 01:51 | 1423623 donpaulo
donpaulo's picture

basically 70% of Japanese live on 30% of the land.

 

They have also found radioactive contamination in things like new concrete, sewage and in Shizuoka green tea which is over 150 Km SW from Tokyo.

They are also finding children's uric acid at higher than normal rates from what they consume. Namely green leafy veggies, mushrooms and root veggies.

Mon, 07/04/2011 - 04:36 | 1423722 Escapeclaws
Escapeclaws's picture

It's time they switch over to cheese doodles and MacDonalds. There's a reason the US is number 1, and that's our diet.

Mon, 07/04/2011 - 02:27 | 1423654 oldman
oldman's picture

Where am I going to run to when the rest of these 40 year-old nuclear plants with a 40 year life start to come apart?

This is still the big story of the century or-----well, who knows how long?

Fire, wind, rain, snow, earthquakes, operator error, bad materials, etc. to the unknown-----I'm fascinated by the universe's idea of justice

Mon, 07/04/2011 - 16:24 | 1425031 Oh regional Indian
Oh regional Indian's picture

The multi-versus idea of Justice Just Is.

ORI

http://aadivaahan.wordpress.com/2011/06/28/thoughts-and-a-heads-up/

Sun, 07/03/2011 - 22:05 | 1423398 VyseLegendaire
VyseLegendaire's picture

Right.  So Japan is gonna go fetch these with its non-existant robotics and offshore drilling capabilities.  Laff.

Sun, 07/03/2011 - 22:07 | 1423402 snowball777
snowball777's picture

Yeah, because they've never come up the learning curve faster than any nation in history or anything.

 

Sun, 07/03/2011 - 22:16 | 1423417 Vlad Tepid
Vlad Tepid's picture

+1

Sun, 07/03/2011 - 22:26 | 1423421 VyseLegendaire
VyseLegendaire's picture

Japan once was a nation capable of that.  Now, generations of wealth has been squandered and the nation's posterity has little to show for it than the government's ubiquitous conceit.

I don't see Japan overcoming its current woes without developing some real sense of unity in overthrowing their entrenched kleptocracy, like with the US.

Where is Japan's new Boshin War?

Sun, 07/03/2011 - 23:46 | 1423516 Vlad Tepid
Vlad Tepid's picture

The same place the original Boshin War was in 1850...not yet fomented.  Whether Dan-no-Ura, Sekigahara, Boshin, or Nagasaki, Japan has to let it get black hole-level dark before it starts to look for a sunrise.  Apparently, it's not bad enough (yet).

Sun, 07/03/2011 - 22:36 | 1423400 snowball777
snowball777's picture

"We estimate that an area of just one square kilometre, surrounding one of the sampling sites, could provide one-fifth of the current annual world consumption of these elements."

http://www.nature.com/ngeo/journal/vaop/ncurrent/full/ngeo1185.html

A reprieve from the sun and 200k years worth of REMs...don't squander this monkeys.

 

Sun, 07/03/2011 - 22:10 | 1423403 kito
kito's picture

lets hope they dont make the same find with new homes that are "under water". it will really sink the housing market.

Sun, 07/03/2011 - 22:09 | 1423406 tmosley
tmosley's picture

lol, and how are they planning to mine the sea floor?  I would have thought that everyone knew that the seafloor was extremely rich in many different types of minerals, but we just don't have the technology to mine there.  But then, maybe we could call the guys from the Deep Core, and their pals (http://en.wikipedia.org/wiki/The_Abyss) to give us a hand.

Sun, 07/03/2011 - 22:35 | 1423432 francis_sawyer
francis_sawyer's picture

We probably know more about the lunar surface (not to mention that, & this point, VOYAGER must be somewhere between the Kuiper Belt & the Oort Cloud) than we kno about the seafloor (nevermind what's under it)...

We'd probably need some "unobtanium" to find out (but as the case may be - it's an effin' RARE EARTH)...

 

 

 

Sun, 07/03/2011 - 23:03 | 1423477 Milestones
Milestones's picture

Hey! Perfect spot for B.P. Look at all the great experience they have at this deep water stuff.   Milestones

Mon, 07/04/2011 - 00:52 | 1423576 Baptiste Say
Baptiste Say's picture

Commision a drill ship, drill down, cement a casing and inject salt water (of which there is clearly plenty given you are on the ocean) which will force REM ore to the surface, collect, ship onshore, process, sell...

 

Obviously not viable for heavier minerals but for high value-weight ratio samples like rare earth metals it probably is.

Sun, 07/03/2011 - 22:11 | 1423407 bob_dabolina
bob_dabolina's picture

I'm short silver, and isn't slv a rare earth element?

http://missivesinstitute.blogspot.com/2011/07/silver.html

Sun, 07/03/2011 - 22:38 | 1423437 francis_sawyer
francis_sawyer's picture

Don't worry... Sean Corrigan has your back (he thinks it's going to $26 - tho u nee to use your secret spy cryptographical DECODER ring to figure it out)...

Sun, 07/03/2011 - 22:14 | 1423414 sabra1
sabra1's picture

since that bin laden guy is down there, maybe he can verify this find!

Mon, 07/04/2011 - 04:39 | 1423725 Escapeclaws
Escapeclaws's picture

Full fathom five bin Laden lies...

Sun, 07/03/2011 - 22:18 | 1423418 nonclaim
nonclaim's picture

Rare earths were never rare as in "hard to find" but in "hard to separate" from the minerals it is in. Since China does not care about work conditions or environmental impacts they could offer huge amounts at very low cost and did it to put everybody else out of work. Then they tried to drive the price up, which killed their only advantage... while making clear you cannot rely on them as the sole supplier...

It is good to find this deposit but there's plenty of sources on land, always cheaper to mine, waiting for a reasonable price to make it worth the investment.

Sun, 07/03/2011 - 22:36 | 1423435 Yen Cross
Yen Cross's picture

 That was a "Very astute comment" nonclaim. And also very accurate!   +1

Sun, 07/03/2011 - 22:44 | 1423453 francis_sawyer
francis_sawyer's picture

Aww fuck...

& I just got busy dusting off my 1970's ROCK TUMBLER thinking I was going to strike it rich!

http://www.areyougame.com/images/large/lgNSI635.jpg

Sun, 07/03/2011 - 23:39 | 1423514 Urban Roman
Urban Roman's picture

Now if the seabed would be so good as to sort all those -dymiums into separate piles for us...

Mon, 07/04/2011 - 01:11 | 1423597 DaveyJones
DaveyJones's picture

And greatly reduce its pressure

Mon, 07/04/2011 - 23:48 | 1425751 FrankDrakman
FrankDrakman's picture

And what would you do if you were the Chinese? Since you don't have to worry about all the environment controls, you are the cheapest producer. So you let the prices go up (making windfall profits) until someone decides the price is high enough to pay for all extraction processes in the US or Canada. Then the Chinese just cut the price, making all the new mining projects uneconomical. Once the Western mining execs shut down the mines, the Chinese let the price go up again.

Lather, rinse, repeat.

Sun, 07/03/2011 - 22:30 | 1423425 Catullus
Catullus's picture

Rare earth metals are neither rare nor earth. Discuss

Sun, 07/03/2011 - 22:35 | 1423430 Spitzer
Spitzer's picture

Casey research has always suspected that they are not so rare. Credit to them but good luck mining shit off the ocean floor.

Sun, 07/03/2011 - 22:38 | 1423439 Rusty Shorts
Rusty Shorts's picture

Mt Erebus Volcano spews pure gold...for a billion years now, maybe 2 billion..just saying.

Sun, 07/03/2011 - 23:06 | 1423479 Spitzer
Spitzer's picture

Geologists have proven that impossible. Same with silver and diamonds. these are elements

Mon, 07/04/2011 - 09:51 | 1424029 Rusty Shorts
Rusty Shorts's picture

Wrong.

Meeker, K., Chuan, R., Kyle, P.R., Palais, J., 1991. Emission of elemental gold particles from Mount Erebus, Ross Island, Antarctica. Geophys. Res. Lett. 18, 1405-1408.

Sun, 07/03/2011 - 22:53 | 1423465 francis_sawyer
francis_sawyer's picture

I'd prefer making [sarc] & abject comments to analysis... However - I suppose the bottom line lies in the realm that with regards to mining (IN GENERAL), it always comes down to an issue of 'concentration'... TITANIUM (for example), is rather ubiquitous (yet unconcentrated) in the Earth's crust...

Sun, 07/03/2011 - 22:36 | 1423434 Atomizer
Atomizer's picture


Somehow, local municipalities will have to draft new laws regarding the possession/transport of rare earth minerals. Just like children snow globes, this can be considered a lethal TSA weapon. Let no revenue go uncollected.

Sun, 07/03/2011 - 22:41 | 1423442 Caviar Emptor
Caviar Emptor's picture

Wow another perfectly timed, fortuitous discovery! 

I guess we need to add it to: the oil boom in Texas that's leaving us "swimming" in oil, the virtually unlimited practically effortless natural gas reserves in New York state, the trillion-dollars of unlimited minerlalwealth in Afghanistan, the untapped wonderland that is Russia, the Mongolian miracle, the arable land proliferation, and the bottomless Iraqi oil fields. 

What a world! What a time to be alive! I swear we oughta cancel the crisis and just all go out tonight and have a month-long orgy! And let Benny boy pick up the tab!

Sun, 07/03/2011 - 22:59 | 1423471 francis_sawyer
francis_sawyer's picture

+1

Yeah... Nowadays we...

- strike the gold

- kill the strawman

- create the new strawman

...all in convenient waves that mesh perfectly with political calendars and publishing deadlines... IT'S JUST SO AMAZING how advanced we are! (don't forget to pay the bill on your way out)...

Mon, 07/04/2011 - 01:15 | 1423602 DaveyJones
DaveyJones's picture

And our nuclear progress. Oh and don't forget world peace

Sun, 07/03/2011 - 22:48 | 1423458 Tunga
Tunga's picture

"Once a man like the sea I raged. Once a woman like the earth I gave, and there is in fact more earth than sea." - Genesis - The Cinema show.

Sun, 07/03/2011 - 23:08 | 1423482 Printfaster
Printfaster's picture

One more stinking time:  Rare earth minerals are not rare.

What is rare is the ability to come of with sensible regulations that would allow the processing of rare earth's in any country other than China.

Regulations over any sort of smelting or processing have become so onerous and silly, that fractions so small that can barely be detected stop any sort of large scale processing.

Only a fool would invest in rare earth mining unless they had direct access to Chinese smelters, and even then what is to say that the Chinese simply will not process your ore?

Mon, 07/04/2011 - 00:54 | 1423580 Tejano
Mon, 07/04/2011 - 01:13 | 1423599 Printfaster
Printfaster's picture

You didn't even read your own reference:

" Malaysia Stalls New Project"

Only Lynas has the hope of building a smelter outside of China.  Wait until the Chinese start bribing the Malaysian politicians.  Or worse.  Molycorp is a joke.

Politics and regulation make rare earths outside of China or Russia probably impossible.  A matter of time before Russia starts smelting the not-so-rare-earths.  Those stupid metals will be pouring into the streets.

Mon, 07/04/2011 - 01:25 | 1423607 Tejano
Tejano's picture

Pity the fool that bought MCP @ 20.

Mon, 07/04/2011 - 18:40 | 1425230 Printfaster
Printfaster's picture

I believe that I said "invest".

Momo and pump and dump are not investing.

Mon, 07/04/2011 - 01:26 | 1423610 LudwigVon
LudwigVon's picture

Agreed. It IS all about the separation. Anyone can get ore. Stans (TSX:HRE) owns the only HREE separation facility outside of China which was previously in operation, providing the USSR with its HREEs allowing a rival nuclear power. Stansenergy.com

Sun, 07/03/2011 - 23:17 | 1423491 oni_baba
oni_baba's picture

New Deep Sea mining negotiations have already begun with some Pacific Island governments,  Transnationals like Nautilus (Canada) have signed lease agreements with PNG.  Recently it was announced that Fiji and Tonga have signed agreements allowing these companies to mine in their EEZs (Exclusive Economic Zones). Currently, mining beyond the EEZ or the continental shelf is against the UN Convention of the Law of the Sea, but that may be revised to extend countries' EEZs.

There's a lot of new deep sea mining manufacturing and technology going on Singapore, Malaysia-- bet certainly not as much as China.

Mining these zones however, are likely an environmental disaster, beyond the scope as we have experienced.  Reef destruction may not seem like a big deal, but the only real trickle-down effect that make sense for all you in the reaganomic appreciation society, is that the destruction of reefs will lead to the extinction of viable oceanic species, that will really trickle down to doom-and-gloom bio-diversity scenarios.  Much of this was recently reported here:

http://www.stateoftheocean.org/

Regarding the REMs, the geo-politics are re-aligning as we speak.  China/Russiaa/North Korea on one side and the trans-pacific partnership on the other:  another link for those that may want to follow up: http://statehoodhawaii.org/2011/06/13/vietnam-has-called-on-the-us-and-o...

 

Mon, 07/04/2011 - 00:54 | 1423579 Baptiste Say
Baptiste Say's picture

BAWWWWWWWWWWWWWWWW

Mon, 07/04/2011 - 01:10 | 1423595 spdrdr
spdrdr's picture

Oni, you seriously will not find many reefs and "viable oceanic species" one mile or more underwater.  It is pitch dark, cold, and lacking in oxygen.

Try science, as opposed to scaremongering, or else join the global warmist hand-wringing religion.

Mon, 07/04/2011 - 02:42 | 1423661 oni_baba
oni_baba's picture

There have been EIS studies done by both sides of this mining issue, and there is nothing yet that is conclusive as far as the Convention of the Law of the Sea is concerned regarding the effects of sediment from these mining machines on fragile reef ecosystems.

Surely, in time there will be but when your're dealing with reef systems and bio-diversity why not caution on the side of error?

Problem with the science approach, after you've laid out your hypothesis which may or may not include the long term effects of bio-diversity or the purpose of deep-sea sulpheric systems, the effects may not match up with the procedure or conclusions.  I have no problem with science that asks the right questions,  but who funds that kind of science?

Mon, 07/04/2011 - 06:55 | 1423767 Vlad Tepid
Vlad Tepid's picture

I am in no way a winging eco-nut, but just because the seabed looks barren and lacks the bio-diversity of higher thermal layers does not mean it's unimportant.  Dredging for shellfish and other bottom fish has ousized effects on the other biospheres in the ocean - this has been pretty well documented and has the 'science' behind it as your above detractor was looking for.  It's kind of like conserving the canopy of the rainforest while roto-tilling and stripmining the bed.  Eventually the whole thing's going to topple over.  I think we should continue to proceed cautiously (as most exploration companies have been).  But the place is not an irrelevant deadzone.  Otherwise they would have just merrily dropped the Fukushima reactors to the bottom of the PO and washed their hands of it.

Mon, 07/04/2011 - 07:51 | 1423805 spdrdr
spdrdr's picture

Mon, 07/04/2011 - 02:42 | 1423662 oni_baba
oni_baba's picture

There have been EIS studies done by both sides of this mining issue, and there is nothing yet that is conclusive as far as the Convention of the Law of the Sea is concerned regarding the effects of sediment from these mining machines on fragile reef ecosystems.

Surely, in time there will be but when your're dealing with reef systems and bio-diversity why not caution on the side of error?

Problem with the science approach, after you've laid out your hypothesis which may or may not include the long term effects of bio-diversity or the purpose of deep-sea sulpheric systems, the effects may not match up with the procedure or conclusions.  I have no problem with science that asks the right questions,  but who funds that kind of science?

Mon, 07/04/2011 - 02:54 | 1423667 oldman
oldman's picture

oni_baba

Thanks, but I'm afraid we are not bright enough to get beyond our ideologies sufficiently enough to comprehend your post. Reaganomics was an absurd fraud, but no one here is old enough to remember what really happened was the nearly total transfer of wealth to the few and transfer of taxation to all except that same few; the only thing that trickled down was the taxes that wiped out the middle-class.

No one understands this---we are just too stupid. Why do you think we are paying for the losses of the banks? I need say no more.

Mon, 07/04/2011 - 03:08 | 1423679 oni_baba
oni_baba's picture

Oldman, "Trickle down" may not have been the best analogy, but it seemed fairly obvious that these new deregulatory policies regarding deep sea mining would threaten ocean/reef biodiversity just as

the only thing that trickled down was the taxes that wiped out the middle-class.

Mon, 07/04/2011 - 07:34 | 1423783 Monedas
Monedas's picture

All the democracies have been left of center forever ! So, as the Ponzi house of cards trickles down, blame Reagan ? Monedas 2011 We live in a fantasy world of Socialist compassion.....isn't it special !

Mon, 07/04/2011 - 10:33 | 1424135 dogbreath
dogbreath's picture

I laugh more to your posts than anybody else's.  Keep it coming.

Sun, 07/03/2011 - 23:37 | 1423512 medicalstudent
medicalstudent's picture

wonder how mich gold we could get out of reverse osmosed seawater?

Mon, 07/04/2011 - 10:40 | 1424147 dogbreath
dogbreath's picture

 about  6ppt - thats six parts per trillion.  1ppm is one gram per tonne.  you do the math.  

Tue, 07/05/2011 - 00:01 | 1425771 medicalstudent
medicalstudent's picture

right.

 

thanks.

Sun, 07/03/2011 - 23:39 | 1423515 FrankIvy
FrankIvy's picture

Great.  Except mining rare earths under the ocean will be . . . challenging?

Come on.  This is no different than the Brazilians going 5 miles down through tiny straws into shifting salt bottom to get to the oil.

 

There could be limitless supplies on the moon, but would good would it do us.

Mon, 07/04/2011 - 02:04 | 1423628 Missiondweller
Missiondweller's picture

What? You never heard of Howard Hughes and the Global Exporer? (LOL!)

 

 

Mon, 07/04/2011 - 08:45 | 1423893 Urban Redneck
Urban Redneck's picture

So this is a CIA front job for a Fukushima cleanup?  Or are they bugging undersea cables in Asia again?  Or perhaps they are now just finding some false flag deposited years ago by the Glomar's backers themselves to justify operation...  Lost in the forest of mirrors  enroute to the valley of the shadow of death (economically, at least).

Mon, 07/04/2011 - 00:15 | 1423530 Atomizer
Atomizer's picture


New Deep Sea mining negotiations have already begun with some Pacific Island governments, Transnationals like Nautilus (Canada) have signed lease agreements with PNG. Recently it was announced that Fiji and Tonga have signed agreements allowing these companies to mine in their EEZs (Exclusive Economic Zones). Currently, mining beyond the EEZ or the continental shelf is against the UN Convention of the Law of the Sea, but that may be revised to extend countries' EEZs.


http://www.trilateral.org/

Law of the Sea Redux

Don't fear them.. they fear you.

I don't write this above garbage, they did.

 

As a special note: society is beyond the fraudulent government/Federal Reserve Fiat Pixies. They never thought the web would outwit them. Today, we're still the Internet...The golden years has slipped by 1984 control freaks. Hahahahahahaha!!

Web 2.0 ... The Machine is Us/ing Us

http://www.youtube.com/watch?v=6gmP4nk0EOE

:>P

Mon, 07/04/2011 - 00:07 | 1423536 Zer0henge
Zer0henge's picture

Dear God,

Please let this be so.

Help the Japanese to recover.

Mon, 07/04/2011 - 02:46 | 1423663 Yen Cross
Yen Cross's picture

 +1 yen

Mon, 07/04/2011 - 00:10 | 1423538 mr. mirbach
mr. mirbach's picture

The last time they found vast mineral deposits on the ocean floor it turned out to be a cover story for the recovery operation of a scuttled sub with nuke warheads.

 

Is this Glomar Explorer II - Search for Godzilla?

Mon, 07/04/2011 - 01:09 | 1423574 Freddie
Freddie's picture

The Japanese or TEPCO (Tokyo Power) supposedly had the Yakuza or Yakuza goons doing "maintainance" at Fukishima before the earthquake.  The cooling and discharge pipes were supposed to handle an earthquake.   Supposedly the plant was poorly maintained and the pipes were a mess.  Piping going everywhere.  Sort of like getting The Teamsters to maintain US plants. Oh, in some cases, they do.

Mon, 07/04/2011 - 01:21 | 1423605 Vlad Tepid
Vlad Tepid's picture

They weren't exactly yakuza goons.  More like homeless bums that the yakuza press-ganged into maintenance duty for super-subpar wages.  They die from cancer and no one asks questions.

Mon, 07/04/2011 - 07:48 | 1423798 spanish inquisition
spanish inquisition's picture

TEPCO 's immediate concern was figuring out with the UK and US on how to cover it up. Yakuza were first on the scene with supplies and aid.

http://www.thedailybeast.com/articles/2011/03/18/japanese-yakuza-aid-earthquake-relief-efforts.html

So in the order of criminal enterprise "goon" humanity level,

Yakuza over Governments and Corporations...

Mon, 07/04/2011 - 08:21 | 1423845 JW n FL
JW n FL's picture

it is amazing.. criminals in almost all cases are more honorable than state and federal agencies. They may be running numbers or girls but they pay on time and they care about who is around in the neighborhoods more than the Piggy's do!

Mon, 07/04/2011 - 01:00 | 1423585 alexdg
alexdg's picture

Sean Corrigan is proved right once again! Infinite resources in the ocean! All commodtiy prices tend to ZERO. I am now selling all my plentiful Gold and Silver for precious FRN's and Yen.

Mon, 07/04/2011 - 01:39 | 1423614 Stuck on Zero
Stuck on Zero's picture

The bottom of the Red Sea probably has the highest concentration of metals on earth.  These are found in the rift valley in several hot brine pools.  It's not clear how you would get it to the surface but isn't it reassuring to know that the Middle East probably controls most of the worlds heavy metals.

Mon, 07/04/2011 - 02:11 | 1423636 time123
time123's picture

While they are still underwater, and not in the market, what is out there is still rare!

 

time123

admin at http://invetrics.com

Mon, 07/04/2011 - 02:58 | 1423670 Jasper16
Jasper16's picture

This is an old cover story from 1974 reused again it seems. Remember Howard Hughes built that under water mining ship to mine this deposit? He used that as his cover story to haul up that sunken Soviet sub.

Proof offered

http://en.wikipedia.org/wiki/Glomar_Explorer

Mon, 07/04/2011 - 03:28 | 1423690 iNull
iNull's picture

Peak Peak Peak Peak Peak Peak Peak. Jesus Christ. What is it going to take to get it through your thick fucking heads. Western Capitalism and growth economies is O.V.E.R. Oh Vee Eeh Fucking Arr. Wake the fuck up.

Mon, 07/04/2011 - 03:41 | 1423694 iNull
iNull's picture

Here. Read this. Cerium oxide is all but gone. U.S. glass polishing operations will cease to exist in the next year.

http://www.glassmagazine.com/news-item/commercial/molycorp-sees-rare-ear...

And don't EVEN get me started on peak oil, cause I will bitch slap you to the highlands of Mongolia.

Mon, 07/04/2011 - 08:26 | 1423849 JW n FL
JW n FL's picture

http://www.australian-phosphate.com/peak-phosphate.html

 

PEAK PHOSPHATE a looming problem? "There are no substitutes for phosphorus in agriculture"

According to the Institute for Sustainable Development, Sydney (UTS) Australia...

"It is clear that already the quality of remaining global Phosphate rock reserves is decreasing and cheap fertilisers will be a thing of the past. Like oil in the 1970's Phosphate rock experienced its first significant price shock- a 700% increase from Us $50/tonne to US$350 per tonne in just 14 months in 2007. Yet there are no alternatives to Phosphate rock currently on the market that could replace it in any significant way."

Peak Phosphorus: the sequel to Peak Oil

[Download PDF]
by Professor Stuart White1 and Dana Cordell1,2
1 Director, Institute for Sustainable Futures, University of Technology, Sydney (UTS) Australia.
2 PhD Scholar, Institute for Sustainable Futures, University of Technology, Sydney (UTS) Australia and Department of Water and Environmental Studies, Linköping University (LiU) Sweden.
Introduction

All modern agricultural systems are dependent on continual inputs of phosphate fertilizers derived from phosphate rock. Yet this is relying on a finite resource and current reserves could be depleted this century. More concerning is that before that point is reached, we will see a global peak in phosphate rock reserves, estimated to occur in the next 30 years.Read full paper

Australian Phosphate Rock Resources

Australia’s total production of rock phosphate in 2004 was 2.3 Mt (Jasinski 2005), mainly from Phosphate Hill, which is situated 135 km southeast of Mount Isa in northern Queensland. The remainder of Australian production is from Christmas Island in the Indian Ocean. Very large phosphorite resources occur in the Early Middle Cambrian Beetle Creek Formation in northwestern Queensland and the Northern Territory (Wallis 2004).
http://www.dpi.nsw.gov.au/__data/assets/pdf_file/0004/238198/Phosphate.pdf

 

Mon, 07/04/2011 - 14:24 | 1424786 oldman
oldman's picture

Good post JW

The phosphorous thing is no big deal because it only affects the growing of enough food to feed us under the current factory ag system.

We will probably change our diet to escape starving to death but will we live as long?

Long life is not for everyone

It appears that some of us will have to go

Maybe we will start eating each other

Just a thought

Tue, 07/05/2011 - 05:12 | 1426048 SHRAGS
SHRAGS's picture

Spooky, I was only looking at that page last week.  MineMakers http://www.minemakers.com.au claims to have two of the worlds largest phosphate projects.

Mon, 07/04/2011 - 03:35 | 1423693 fredquimby
fredquimby's picture

Rare earths are not rare on land either, it is just in minable concentration that they are rare.

As these new undersea "resources" are also spread out over 11 million square miles.....

 

P.S Lynas Corp - LYC - up 8% over night :)

 

 

Mon, 07/04/2011 - 03:46 | 1423702 iNull
iNull's picture

Right. And if you add up all the trace-uranium soil, we have enough to power the world for the next 300 years. Get real dude. It takes energy to extract those trace elements. C'mon. Let's have an honest discussion about world resources. Enough of the bullshit.

Mon, 07/04/2011 - 04:24 | 1423718 DrStrangelove
DrStrangelove's picture

LMAO in a big way, very difficult and dangerous and environmentally hazardous to do this mining on land. 

 

Not a credible solution at this point.

 

Happy Independence Day from   http://nationaleconomist.blogspot.com/

 

NE loves the Zero hedge. 

Mon, 07/04/2011 - 05:19 | 1423737 Version 7
Version 7's picture

It's a story similar in a way to shale oil. There's a huge amount of it..non-recoverable.

Mon, 07/04/2011 - 07:18 | 1423777 FranSix
FranSix's picture

Unless drill testing is done and resource calculations are made, then these scientific findings are pure speculation.

There's a lot of interest for mining the sea floor, just keep it in a jurisdiction where there are virtually no restrictions on pollution of sea water and the destruction of sea habitat.

http://www.nautilusminerals.com/s/Home.asp

Mon, 07/04/2011 - 07:54 | 1423801 Monedas
Monedas's picture

All the world's democracies have been left of center forever ! Lust for the unearned always trumps Libertarian free market logic ! So now that the Ponzi scheme driven by the left of center servicing their mob base is at the breaking point.......blame Reagan ? So the new world order will begin with the flawed thinking that got us into this mess ? LOL Monedas 2011 The only element rare on this earth is logic !

Mon, 07/04/2011 - 08:33 | 1423863 JW n FL
JW n FL's picture

1. http://www.youtube.com/watch?v=wYuLjGQQ-jg there is not enough energy to go around, LET ME REALLY DUMB IT DOWN!! There is not enough cheap Energy to go around. It is not that we are out of oil, the problem is that we have Peaked in Global Production of Lite Sweet Crude. Thusly energy now costs $200bbl a barrel.

 

2. http://blogs.forbes.com/beltway/2011/02/14/intelligence-community-fears-u-s-manufacturing-decline/ 50,000 jobs a month since the year 2000.. have been moved off shore and to china.. and we Paid Corporations to Undermine the Tax Base??????????????????? We Paid Corporations to Undermine our own work force????????????????? This was good for America how?

 

Now that you know what the problems are you can continue to sit on your ass and do exactly nothing about fixing them.

Mon, 07/04/2011 - 09:02 | 1423932 bill1102inf
bill1102inf's picture

Really? All we need is a president to announce we will be energy independent in 3 years once X amount of Thorium reactors are built. Electricity, synth gasoline and diesel using only what we currently burn in coal. Done.  

 

At this rate, China will be there first.

Mon, 07/04/2011 - 07:56 | 1423810 steve.stuart
steve.stuart's picture

thers is comex to deal with rare earths so we can for sure expect prices to be determined by demand and supply....may be a short term dip in prices due to speculation but i do not think they can keep the prices down.

Mon, 07/04/2011 - 11:04 | 1423870 Franken_Stein
Franken_Stein's picture

 

If I were China I wouldn't be moved a bit.

I'd say: Nice try, nice bluff. Now show me your cards.

And you better have a full house or four aces, otherwise get the hell outta here !

 

Boy, this perception management bullshit is starting to get on my nerves.

This is such a cowardly, childish and weasly attitude exhibited by TPTB.

Oh let's just tinker with the numbers if they don't fit our plans.

 

What a load of bullshit.

Do you now see by what kind of assholes we are all being governed.

By what kind of spoiled baby boomer brats ?!

Hopefully this generation is going to die off pretty soon, giving way to a more responsible one.

 

Mon, 07/04/2011 - 09:18 | 1423971 ATTILA THE WIMP
ATTILA THE WIMP's picture

I recently sold all my gold and most of my silver to buy rare earth mining stocks.

I have posted my (modest) holdings of RE stocks on my web site so anyone interested can keep track of my gains/losses.

http://abandonhope.weebly.com/

If you go to my site you can click on "MY RANTS" link and read my "Dr. StrangeInvestor" rant you can find out wht I got out of PM and into rare earths.

 

 

 

Do NOT follow this link or you will be banned from the site!