A bizzare island off the coast of Greenland has been discovered to harbour some of the most rare metals in the world. The metal material was found beneath the deep rocks and ice of a part of the island named, Llimaussaq Intrusion and currently represents the world’s largest known reserve of the rarest earth materials. This find could easily challenge the dominance that China has had over metal fabrication with, Beijing being the top gun in the field for many years. Currently, China alone has over 95% of the metal trade firmly within it’s grasp. China has nurtured this trade for the last 15 years and have recently started using it as a potent trade weapon with countries from around the world.

According to the mining community, Greenland will have an amazing hand of luck over the coming years as it is currently negotiating sovereignty from Denmark which will mean that any natural materials found in Greenland will be their property alone which will help maximise trade with other countries. The cost of extracting the rare earth metals will be offset by the profits from extracting uranium from the same site, effectively preventing China from undercutting the operation on price, which is how it obtained its dominance over the world market in the first place. The metal itself will be very useful for companies who specialise in tube manipulation and steel fabrication so it will be extremely valuable. Rare materials such as these do not go un-noticed and even the Japanese Governement has been getting in on the action as they do not want to be left out. With the recent discovery of the earth’s most rarest materials the market will become far more balanced and evenly priced therefore the cost of machinery will be loads cheaper. This will have a massive impact on the metal industry for the next few years and and I am looking forward to see what the effects will be.