A survey by the University of Tokyo and The Nippon Foundation from April 24 to June 9 has uncovered a vast deposit of rare earth metals worth an estimated $26.3 billion near Minami-Torishima Island. Located 3.5 miles (5,700 meters) below sea level, the
deposit contains approximately 230 million tons of manganese nodules rich in cobalt and nickel, crucial components for electric vehicle batteries and other technologies.