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Molycorp reopens its east Mojave rare earth mine operations

Steel News - Published on Mon, 09 May 2011

Daily Bulletin reported that Molycorp continued its high-publicity surge into the rare earth metals trade recently when the company celebrated the renewal of mining operations at its east Mojave Desert mine and USD 781 million \"Project Phoenix\" investments.

Mr Mark A Smith CEO of Molycorp said “Molycorp is back. We\'re going to be a meaningful rare earth metals supplier in the United States.”

The mine is along the 15 Freeway about 32 miles east of Baker and 50 miles south of Las Vegas.

Molycorp actually resumed its Mountain Pass operations in December. The company brought the mine back into operation after environmental problems including wastewater spills resulting in contaminated water flowing into the desert led to the mine\'s shutdown in 2002.

Last month, the company announced its USD 17.5 million purchase of Santoku America, a processing firm with facilities in Arizona. Molycorp, which has its corporate offices in Greenwood Village in Colorado also has purchased a 90% interest in Estonian processor AS Silmet and is working toward solidifying a partnership with Hitachi Metals.

Molycorp executives said hat they will ultimately be able to expand mine output from 3,000 tons to 40,000 tons in mid 2013.

The Mountain Pass mine is North America\'s only source for the rare earth elements, 17 materials including the lanthanide series of elements. The metals have a wide variety of uses in such diverse applications as smart phones, wind power generation and warfare.

(Sourced from dailybulletin.com)

Posted By : admin on Mon, 09 May 2011
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