Very large rare-earth elements (REE) Fe-Nb deposit (Bayan-Obo type), discovered as an iron deposit in 1927. REE minerals were discovered in 1936, and -bearing ores in the late 1950s. Reserves are estimated at more than 40 million tons of REE minerals grading at 3–5.4% REE (70% of world's known REE reserves), 1 million tons of Nb2O5 and 470 million tons of iron. Th. [pdf]
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