Osaka Bay Mining today announced that it will commence a deep sea, underwater exploration process in the Luzon Basin off the east coast of the Philippines.
Online PR News – 04-September-2020 – OSAKA – Osaka Bay Mining’s deep sea research team recently analyzed samples of precious metals and minerals, with the potential to mine copper, manganese, cobalt, and zinc, which are critical battery metals.
Osaka Bay Mining will have exploration rights to a 68,800 km2 block of seabed that contains potential resources of 720 million wet tons of polymetallic nodules and will use an ultra-deepwater drill ship for a polymetallic nodule collection vessel.
Osaka Bay Mining’s Chief Geologist, Mr. Douglas McMahon commented on the Luzon Basin acquisition saying “This potential discovery could contain very large deposits of nickel, cobalt and manganese which are critical for the production of renewable energy storage, and it will require hundreds of millions of tons of nickel, cobalt, copper and manganese.”
“We have set aside a particular mineral rich location encompassing 1.2 million km2 and is estimated to contain enough metal to supply conductors for the electric vehicle market for many, many years to come. We believe now more than ever that the world needs to work together to find solutions to tackle climate change and mining these minerals will enable us to break away from fossil fuels for much cleaner and greener environment,” added Douglas McMahon, Chief Geologist of Osaka Bay Mining.
About Us - Osaka Bay Mining
Osaka Bay Mining is dedicated to exploring undersea locations for rare earth metal concentrations and developing the mining infrastructure required to capitalize upon this multi-billion dollar market. We focus our operations in a variety of locations throughout the East China Sea and the Philippine Sea, and the wider Pacific Ocean.
Worldwide production of rare earth metals exceeds 130,000 tons. In terms of consumption, Japan is the 2nd largest consumer of rare earth metals, with approximately 25% of global consumption, driven by its electronics, scientific and advanced manufacturing industries. The Japanese Ministry for Economy, Trade and Industry’s (METI) Agency for Natural Resources & Energy have implemented several policies with the aim of creating a conducive business environment for developing production of rare earth metals in the Japan.
Osaka Bay Mining’s exploration locations are within 200km of the coast of the islands of Japan, including Kiisuido Strait and Harima-nada Sea, and Osaka Bay itself (the Osaka Bay Complex), in the East China Sea and the Philippine Sea, and the wider Pacific Ocean, including the Okinawa Through. Following our initial exploration of over 200 sites, we estimate that in excess of 80 billion tons of rare earth metals are deposited in the sediment on the floor of the Pacific Ocean.