SAN FRANCISCO, CA–(Marketwired – May 31, 2016) – Global permanent magnets market is likely to reach USD 31.18 billion by 2020. Growing demand for the product from automobile industry is expected to be a key factor driving growth for permanent magnets over the forecast period. The increasing use of the
Friday May 20th the first annual European Rare Earth Roundtable, hosted by Adamas Intelligence and the Technology, Rare and Electronic Materials Center. Following the event, the Investing News Network reached out to Ryan Castilloux of Adamas Intelligence to get some updated insight into the market.
Molycorp (OTC:MCPIQ) announced that its plan to emerge from Chapter 11 Bankruptcy protection was approved by the US Bankruptcy Court for the District of Delaware this week. The company had faced a number of objections to previous plans.
The Investing News Network recently spoke with Ben Kramer-Miller, chief analyst at miningWealth, to get some insight into the rare earths market.
Bankrupt Company News reported that the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America and its Local Union 662 have filed an objection to Molycorp’s (OTCMKTS:MCPIQ) reorganization plans.
The Wall Street Journal reported that Molycorp (OTCMKTS:MCPIQ) has failed to garner any acceptable offers for its business, but Bondholders are crying foul, stating the company should not have rejected their bid.
In a letter to shareholders, Texas Rare Earth Resources CEO Dan Gorski admitted that due to difficult capital markets in 2015, the company was caused to scale back its process and development work originally planned for the past year. Still, he stressed that the company has made technical progress with
In the latest Molycorp news, a number of bidders have reportedly emerged for the company’s assets. The news sparked a share price rise earlier this week.
On Monday, Reuters reported that Molycorp’s (OTCMKTS:MCPIQ) plan to exit bankruptcy has been accused of being a “sham bidding process,” weighted in favour of its senior lender Oaktree Capital Management.