Molycorp Forays Into Europe with $89 Million AS Silmet Buy

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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