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Deep sea mud off the coast of Japan contains enough rare earth metals to supply the world for centuries to come, a new study reveals.

The study published this week in Scientific Reports says the deposit, which lies within the Japanese exclusive economic zone, contains 16 million tons of rare-earth oxides, enough to meet the demand for yttrium for 780 years, europium for 620 years, terbium for 420 years and dysprosium for 730 years.

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The deposit “has the potential to supply these metals on a semi-infinite basis to the world,” the study said.

Rare earth elements are used extensively in technology such as smart phones, electric and hybrid cars, rechargeable batteries and screen display panels.

The find could be a game changer for major electronics manufacturer Japan which has been at the mercy of the world’s largest supplier China.

In 2010, China cut its export quotas on rare earth minerals by 40 per cent and prices soared. The quotas were later dropped after complaints were taken to the World Trade Organization.