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A mysterious type of iron-rich magma entombed within extinct volcanoes is likely abundant with rare earth elements and could offer a new way to source these in-demand metals, according to new research from The Australian National University (ANU) and the University of the Chinese Academy of Sciences.

The research is published in Geochemical Perspectives Letters.

Rare earth elements are found in smartphones, flat screen TVs, magnets, and even trains and missiles. They are also vital to the development of electric vehicles and renewable energy technologies such as wind turbines.

Dr. Michael Anenburg from ANU said the iron-rich magma that solidified to form some extinct volcanoes is up to a hundred times more efficient at concentrating rare earth metals than the magmas that commonly erupt from active volcanoes.

"We have never seen an iron-rich magma erupt from an active volcano, but we know some extinct volcanoes, which are millions of years old, had this enigmatic type of eruption," Dr. Anenburg said.

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