Molymet to Purchase 13% Stake in Molycorp

Mining Weekly reported that Molymet will pay $390 million for a stake in Molycorp (NYSE:MCP).

As quoted in the market news:

That gets it a stake of around 13% in Molycorp, which said it would use the proceeds to “bolster strategic flexibility”, and that the funds would help it to pursue its vertical supply chain integration model.

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