Petroplus Reduces Consumption of Rare Earths

Bloomberg Businessweek reported that Petroplus AG (OTC Pink:PEPFF) is reducing its use of rare earths at refineries as prices rebound.

As quoted in the market news:

Petroplus is using 300 tons a year of rare earths in catalysts that typically contain 3 percent of the metals…The company has taken steps to cut that to 2 percent at its Petit Couronne refinery in France and is using a type of catalyst at its U.K. Coryton plant that doesn’t contain the material.

Click here to read the full Bloomberg Businessweek report.