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Significant Rare Earths Discovery Made In Central China

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truck_2 October 7, 2010 (Chinavestor) China, already home to the biggest deposits of rare earth minerals in the world, is set to add to that stash after announcing a significant rare earths discovery in in central China's Hubei Province. Rare earth minerals are used in a variety of high-tech products such as iPhones, laptops and hybrid cars.

The newly-found deposit sits at the foot of Mt. Laoyin in Longba Township of Zhuxi County, in Shiyan City, according to the Xinhua news agency. Zhushan, another county in Shiyan, has also been home to 12 rare earths discoveries. Local geologists are studying the most recent find to determine exactly what minerals can be extracted.

The rare earths designation is given to 17 chemical elements inlcuding dysprosium, terbium, thulium, lutetium and yttrium. China produces about 90% of the world's rare earth minerals. The Inner Mongolia Autonomous Region in north China has the largest reserves of rare earths in the country, or about 75%, according to Xinhua.



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