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Molycorp Completes Funding for Rare Earths Project

3:53 PM MDT | June 20, 2011 | Vincent Valk

Molycorp (Greenwood Village, CO) has completed funding for its $781 million expansion project at its Mountain Pass, CA facility. The project includes a mine and processing facility for rare earth oxides (REOs). "Beginning next year, we expect to significantly ramp up production of 10 different high-purity rare earth oxides — light and heavy rare earths — as well as a variety of rare earth metals, alloys, and permanent rare earth magnets," says Molycorp CEO Mark Smith.   The company closed on final funding for the project, in the...

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