Molycorp to Supply Rare Earths for Siemens Wind Turbine Generators

Mining.com reported that Siemens AG (OTCMKTS:SIEGY) has selected Molycorp, Inc. (NYSE: MCP) ) to supply rare earth materials from its Mountain Pass, California facility for incorporation into Siemens’ wind turbine generators.

As quoted in the market news,

Siemens officials noted that key factors in choosing Molycorp were Molycorp’s ability to provide greater global diversification and reliability to its supply chain, as well as the environmental and process innovations Molycorp has built into its Mountain Pass rare earth facility.  Among those innovations are the facility’s ability to recycle water, regenerate the chemical reagents needed in rare earth production, generate power from a high-efficiency natural gas cogeneration power plant, and dispose of mine tailings through an innovative paste tailings system.

Geoff Bedford, Molycorp’s President and Chief Executive Officer stated:

We are very pleased to have been selected to supply Siemens and Shin-Etsu with rare earth magnetic materials for this important clean energy supply chain project. This agreement underscores Molycorp’s commitment to partner with our customers to support their product development efforts and serve as an integrated, long-term provider of reliable rare earth supply.

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