| Molycorp's Biggest Shareholder Molymet Planning to Bid on Miner's Assets | |
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Molycorp Inc.’s biggest shareholder, Chile’s Molibdenos y Metales SA, is planning to bid on some or all of the company’s assets in bankruptcy, according to three people with knowledge of the matter. The prospective buyer, known as Molymet, is interested in assets including Molycorp’s largest U.S. mine -- the Mountain Pass facility -- in California, said the people, who asked not to be named because the plan isn’t public. More from Bloomberg.com: Fourteen Wall Street Veterans Share the Best Advice They've Ever Received To avoid any potential conflicts of interest, two Molycorp board members with ties to Molymet have recused themselves from recent restructuring discussions, the people said. John Graell Moore is chief executive officer of Molymet, while Michael Schwarzkopf sits on the board. Molymet, the world’s biggest processor of the steel-hardening element molybdenum, had earlier expressed interest in helping to run the Mountain Pass mine for the restructured Molycorp, said the people. Molymet owns more than 18 percent of the stock in the company, which is largest rare-earths miner in the U.S. More from Bloomberg.com: AB InBev, SABMiller Reach Agreement on Acquisition Molycorp spokesman Jim Sims declined to comment. Moore, Schwarzkopf and Nicolas Donoso, a spokesman for Santiago-based Molymet, didn’t respond to e-mails and calls seeking comment. More from Bloomberg.com Read Molycorp's Biggest Shareholder Molymet Planning to Bid on Miner's Assets on bloomberg.com
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Molycorp Minerals LLC
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DEVELOPMENT STAGE |
CODE : MCP |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Molycorp Minerals is a exploration company based in United states of america. Molycorp Minerals develops rare earth in USA. Its main asset in development is MOUNTAIN PASS in USA. Molycorp Minerals is listed in United States of America. Its market capitalisation is US$ 37.3 millions as of today (€ 34.1 millions). Its stock quote reached its highest recent level on December 28, 2012 at US$ 9.98, and its lowest recent point on January 30, 2015 at US$ 0.28. Molycorp Minerals has 103 950 000 shares outstanding. |