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Jamaica Strikes It Rich: Rare Earth Elements Worth $400 Billion Discovered
Kingston, Jamaica
Jamaica has uncovered one of the largest deposits of rare earth elements (REEs) in the Western Hemisphere, with an estimated value of over $400 billion USD, according to a government announcement that has sent shockwaves through the global mining and tech industries.
The rare earth elements—vital for the manufacturing of smartphones, electric vehicles, solar panels, military technology, and wind turbines—were discovered in large concentrations across bauxite-rich regions of the island, particularly in St. Elizabeth and Manchester parishes.
A Game-Changer for Jamaica’s Economy
Prime Minister Andrew Holness called the discovery a “transformational moment” for Jamaica, a country historically reliant on tourism, remittances, and bauxite mining. “This is not just a mineral find—this is a national opportunity,” he said during a press conference held at Jamaica House. “It positions Jamaica at the center of the green technology revolution.”
Experts say the rare earth deposits could catapult Jamaica into a strategic global supplier, potentially reducing Western dependence on China, which currently dominates more than 80% of the rare earths market.
Strategic National Resource
The find, confirmed through geological surveys by the Jamaica Bauxite Institute (JBI) in partnership with Canadian and Japanese firms, consists of critical minerals like neodymium, dysprosium, and terbium. These elements are essential in producing high-strength magnets used in everything from electric vehicle motors to guided missile systems.
JBI director Dr. Andre Morrison stated, “Our soil, which has long been a source of traditional bauxite mining, holds far more technological value than we ever imagined. This discovery puts Jamaica in a unique position globally.”
Environmental and Social Considerations
While the potential economic benefits are enormous, environmental groups are urging caution. The extraction of rare earth elements can be environmentally hazardous if not managed responsibly.
Local communities have expressed concerns over land displacement and ecological disruption. The government has promised strict regulations and a transparent environmental review process. “Sustainable development is not optional—it’s a requirement,” Holness reassured.
Eyes of the World Now on Jamaica
The global response has been swift. Delegations from the United States, European Union, and several major technology firms are reportedly seeking meetings with Jamaican officials to explore investment and trade opportunities.
Economists believe this discovery could double or even triple Jamaica’s GDP over the next decade, provided the resource is managed wisely and equitably.
Looking Ahead
Jamaica’s Parliament is expected to introduce a Rare Earth Strategic Management Bill in the coming weeks, aimed at protecting the resource and ensuring that revenue flows into public infrastructure, education, and social programs.
“This is our chance to build a new Jamaica—one that is rich not only in culture and heritage but in resources and opportunities for all its people,” said Finance Minister Nigel Clarke.
As the island positions itself at the heart of a global economic shift, all eyes are now on Jamaica to see how it harnesses this once-in-a-century discovery.
Attached is a news article regarding Jamaica finding rare earth elements worth 400 billion USD
https://jis.gov.jm/large-deposits-of-rare-earth-elements/
Article written and configured by Christopher Stanley special correspondent
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