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Molycorp Forays Into Europe with $89 Million AS Silmet Buy
Apr. 04, 2011 07:21AM PST
Rare Earth InvestingReuters reported that Molycorp (NYSE:MCP) has almost doubled its rare earth oxide production capacity by buying a large stake in AS Silmet.
Reuters reported that Molycorp (NYSE:MCP) has almost doubled its rare earth oxide production capacity by buying a large stake in AS Silmet.
The market news is quoted as saying:
After the deal, AS Silmet will source rare-earth feed from Molycorp’s facility in California, becoming the first rare earth oxide and metal producer in Europe not dependent on China for raw materials.
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