According to The Drive, Turkey found a deposit of nearly 700 million tons of rare earth elements in Beylikova, Eskişehir.

The reserve could include 10 of the 17 rare earth elements, among which are cerium, scandium and Europium, and since it is close to the surface, extraction can be done fairly easily.

Turkey's Minister for Energy and Natural Resources Fatih Dönmez said that the construction of the facilities that will extract and process the materials will begin later this year, after further research is completed.

Country officials expect to be able to process some 570.000 tons of materials per year once the sites will be up and running, which is almost two times more than the expected global demand in 2030, 315.000 tons.

Currently, the exact rare earth elements found in the deposit aren't yet known, but some of them are almost certainly good for use in the automotive industry, in EVs.