Molycorp, Hitachi plan rare-earth production JVs

Mining Weekly.com reports that Molycorp (NYSE:MCP) and Hitachi Metals have signed an agreement  to produce rare-earth alloys and magnets in the US.

The editorial is quoted as saying:

“These joint ventures are an integral part of Molycorp’s ‘mine-to-magnets’ business plan, and they move our company and the United States one step closer to realising the strategic goal of re-establishing a complete rare earth manufacturing supply chain in the US,” Molycorp CEO Mark Smith said.

To access the full editorial, click here.