Japan finds huge deposit of rare-earth minerals

A study published in the journal Nature reveals the discovery of 16 million tons of rare Earth minerals off the coast of Japan, near Minami-Torishima island, at a depth of 6,000 meters. These minerals, including yttrium, dysprosium, europium, and terbium, are crucial for manufacturing smartphones, electric cars, and rechargeable batteries.

Where near Japan were these minerals found?

What are some applications of the rare Earth minerals found?