The $2 million coal mine that could hold a $37 billion treasure
They have found rare earths in the coal mine. A layer of ionic clay above and below the coal bed in fact.
Very exciting.
Except, well… there’s nothing at all to indicate that it’s a special coal bed. So let’s assume there are really a lot of rare earths here. Well, that means lots of rare earths in lots of coal deposits. Or they are not rare.
Well, most coal contains rare earths. We have known this for decades. The question is always “How much?” “.
Oh. That’s about 10% of the level of other ionic clays that people mine for rare earths. Well, 10%? It may not be economical at all. Maybe, you know. The mere cost of extracting them could be greater than the value of what is extracted. Or, alternatively, if they can mine profitably at these levels, then rare earths really aren’t rare – because it is not, in memory at least, an unusual grade level for a coal deposit. So they are really not rare.