Osaka Bay Mining today completed a takeover of a deep-ocean exploration seed company to a potentially significant subsea mineral deposit in the South Pacific.
Online PR News – 23-September-2020 – OSAKA – Osaka Bay Mining will acquire equity ownership as it has already conducted significant exploration work on a promising seafloor mineral resource area. Osaka Bay Mining originally funded the seed company for the project in South Pacific in 2018.
Osaka Bay Mining’s Chief Operations Officer, Ms. Aya Sasamoto commented on the takeover saying “Our analysts have concluded exploratory work on this deposit and millions of dollars have already been invested in order to start this project and now we are seeing the rewards. The ground work has been done and we are extremely optimistic with the outstanding potential value of this resource.”
“The South Pacific project will add a vast array of subsea mineral types to our expanding portfolio of mineral assets, which offers a very powerful way diversifying assets to portfolios. This transaction aligns Osaka Bay Mining’s business model of acquiring and developing subsea mineral assets to create near-term and long-term value,” added Aya Sasamoto, Chief Operations Officer 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.