Europe uncovers a treasure under the sea: rare metals found off the Canary Islands could change global supply chains

Forget gold coins or pirate tales — Europe just announced the discovery of its largest undersea treasure to date. And it's not jewels, but something far more valuable in today’s world: rare and strategic metals buried deep below the ocean floor.

Located near the Canary Islands, this newly identified deposit contains materials critical to modern industries — from smartphones to wind turbines and electric cars.

According to El Cabildo, the reserve could produce up to 45,000 tons annually of rare earth elements like neodymium, dysprosium and terbium, plus cobalt, lithium, titanium and even traces of precious metals like gold and platinum.

What’s under the sea?

• Rare earths: neodymium, terbium, dysprosium;
• Battery and tech metals: cobalt, nickel, lithium, titanium;
• Precious elements: gold, silver, platinum — in smaller concentrations.

Why it matters

• Europe seeks independence from Chinese supply chains for key minerals;
• The deposit supports the EU’s green transition goals;
• Environmental groups raise concerns about deep-sea mining impacts.

By the way, the treasures of the future aren’t shiny on the surface. They lie hidden beneath layers of saltwater and rock — and may shape tomorrow’s technologies and geopolitics.