Yokohama Marine Mining, a leader in the field of deep-ocean mining exploration, today provided an update on its Nauru Phosphate project in the Pacific Islands.
Online PR News – 10-September-2020 – YOKOHAMA – Although mining activity has dropped significantly in Nauru, very few active projects remain with certain licenses in place and Yokohama Marine Mining have complied with all the regulations regarding the project site.
Yokohama Marine Mining have completed testing of the phosphate samples and have determined that the resource estimates could be as much as 385 million tons of ore and recent test results indicate that the material will easily process into a market-grade product of phosphate rock concentrate suitable for acid production and subsequent fertilizer production.
Yokohama Marine Mining’s Chief Operations Officer, Mr. Katsumi Kinmochi commented on the Nauru Phosphate project saying “We are extremely happy with the results and analysis on the Nauru Phosphate site. Next will be to determine the core sample depth, where the core has high mineralization. Additional testing is expected to be concluded within the next few weeks and updates will be provided when the tests are completed.”.
About Us - Yokohama Marine Mining
At Yokohama Marine Mining, we have a commitment to discover, develop and produce from rare earth mineral from locations throughout the Pacific Ocean.
Japan consumes more than 30,000 tons of rare earth metals every year. The Agency for Natural Resources & Energy in Japan have placed a significant emphasis on developing production of rare earth metals in the country. They have offered numerous development grants and exploration concessions.
We focus our exploration locations in the Pacific Ocean within 500km of the coast of the islands of Japan. Having undertaken exploration of over 100, we estimate that more than 100 billion tons of rare earth minerals are available in the sediment on the ocean floor.