Molycorp Forays Into Europe with $89 Million AS Silmet Buy

Rare Earth Investing

Reuters 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.

To read the full market news, click here.

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