From Bit-Tech:

Japan has discovered huge deposits of rare earth minerals on the ocean floor around Hawaii in the Pacific Ocean.
.....more here
http://www.bit-tech.net/news/hardware/2011/07/04/japan-finds-rare-earth-mineral-deposits/1

"around Hawaii" might be a fairly liberal interpretation. According to the article (for anyone willing to stump up for the sunscription) the deposits are closer to the South Pacific Islands (Tonga, Fiji, Papua New Guinea area)

Probably just an excuse for the Japanese to set up camp around Hawaii* (...again)

*jk
/yes I know Hawaii's population demographic

:haha:

By the way I don't think these 'rare earths' may be economical enough to dig them out form such depths. So all this may not come to an happy end anyway.

Noooooo! ...it's on the Internet so it has to be true.

Okay, only if this can be done 'virtually' it may be true