IHS Chemical Week

People & Business :: Companies

Molycorp, Sumitomo Nix Funding Deal

11:54 AM MDT | September 16, 2011 | Vincent Valk

Rare earths producer Molycorp (Greenwood Village, CO) and Sumitomo Corporation have decided to cancel a deal under which Sumitomo would have purchased a $100 million equity stake in Molycorp. The terms of the deal had changed, and Molycorp, whose expansion plans are now fully funded, no longer needed the cash, the company says.   The most recent iteration of the deal, which was first announced in January, called for Sumitomo to make two $50 million investments, in exchange for guaranteed sourcing of rare earth oxides from Molycorp at discounted prices...

This information is only available to Chemical Week subscribers.


Forgot your user ID or password?
Click here to have it sent to you.

Not an IHS Chemical Week subscriber yet?

Here's why you should be:

  • 31 issues of Chemical Week magazine a year in print or digital format
  • Real time news and analysis on chemweek.com 
  • 20+ years of online archives
  • Topical e-newsletters that capture the most impactful events
  • Special issues with a regional or company focus
  • Global Outlook issue

Subscribe now


contact us | about us | privacy policy | sitemap

ihsCopyright © IHS, Inc.All rights reserved.Reproduction in whole or in part without permission is prohibited.

North Asia Russia Southeast Asia China India/Pakistan Middle East Eastern Europe Western Europe Central America Canada USA Australia/New Zealand South America Africa