There is an estimated 104,300 metric tons of thorium and rare earth element-rich veins in the area where MMG Limited has been granted exploration rights.
Tesla has dubbed its $5-billion pet project, the "Gigafactory," and it could be up and running by 2017, prompting the need for battery-grade materials like graphite, lithium and cobalt.
The country's ’s new mineral resources law, which is awaiting the President’s signature, faces growing opposition as the mines minister, industry and opposition seek review.
