| Molycorp to suspend production at Mountain Pass facility in California | |
| | |
|
Aug 26 (Reuters) - Rare earths supplier Molycorp Inc , which recently filed for bankruptcy protection, said it would suspend production at its flagship Mountain Pass facility in California by Oct. 20 due to a fall in prices. The company, which is the only U.S. supplier of rare earths, said it will continue to supply rare earths from its other facilities in Estonia and China. The Greenwood, Colorado-based company filed for bankruptcy protection in June. Rare earths gained global attention in 2010, when China clamped down on exports. Sensing an opportunity, Molycorp started expanding its Mountain Pass rare earths mine in California. But China subsequently eased export rules, causing prices to fall. Rare earths are used in a range of products from smartphones to military jet engines to hybrid vehicles. China controls roughly 90 percent of the world's supply of rare earths. (Reporting by Anannya Pramanick in Bengaluru; Editing by Sriraj Kalluvila)
|
|
|
Molycorp Minerals LLC
|
|
DEVELOPMENT STAGE |
CODE : MCP |
|
|
| |
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. |