There was interesting research on this question recently too. Bunch of researchers from Japan argue that it's due to the release of calcium from bones interacting with clay of certain chemical compositions; and that these calcite concretions probably only take a few years to form.
Full article in Nature here (open access).
Interesting that the calcite concretions did not cover the shell of the Yatsuo tusk-shell.
I would think it was made from calcium carbonate. Presumably the calcium was already bonded as calcium carbonate and not free calcium from the bones?
Also, I note these are marine deposits, whereas I was under the impression that the mammal fossils were terrestrial. How would this process occur under terrestrial conditions?
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