molycorp

Molycorp announced on Monday that it had received the last of the construction permits needed to proceed.

That includes an abandoned mine in California that the American company Molycorp is trying to refurbish.

He said Molycorp, which also distributes, has so far had no trouble importing from China but intends to step up its monitoring of the trade.

Among the stocks I'd bought was Molycorp, the only U. S. company in possession of a genuine rare earth mine.

If it proves feasible, the discovery would put Molycorp at the forefront in breaking the United States' dependence on China's supply.

He said China's strategy nevertheless underscores why companies like Molycorp are scrambling to produce.

At least one environmental group is giving Molycorp the benefit of the doubt.

"Global supply and demand will remain out of balance for the foreseeable future, " said Chief Executive Officer Mark Smith.

The industry is one of the largest US consumers of rare earths, Molycorp said.

Meanwhile, the urgency has prompted Molycorp to raise $500m through a public offering to get its Mountain Pass mine restarted.

With worldwide demand for the materials exploding, the site's owner, Molycorp Minerals, restarted mining at Mountain Pass last December.

Rare earth miner Molycorp U. S. companies have begun to prepare to re-mining in open pit of California desert.

Now, the new investors that own Molycorp Inc. are eager to prove that producing rare earths can be both clean and economical.

Some of the problems associated with the site that haven't gone away aren't Molycorp's responsibility.

Australia's Lynas Corp. U. S. -based Molycorp Inc. and other companies around the world are ramping up mining.

Molycorp argues that it has those issue covered.

Heavy metalwork: A new separation facility is being built at Molycorp's mine in Mountain Pass, California.

Molycorp says its technology could allow it to produce the metals.

In fact, Molycorp expects to emerge as one of China's largest competitors.

Once China started scaling back, however, Molycorp saw the opportunity to start up its Mountain Pass mine again.

Molycorp is the western hemisphere's only producer of rare earth products.

In July it raised $394m in an initial public offering; its shares have risen by 20% since.

Another American company is Molycorp.

Molycorp has continued some production from existing stocks and plans to restart mining an annual rate of 18, 000 tonnes in 2012.

Molycorp officials couldn't be reached Wednesday for comment.

Molycorp's New York Stock Exchange-listed shares have surged from the $14 IPO price in August, to trade recently at $34. 09.

Molycorp, owners of the Mountain Pass mine in California, aim to produce one sixth of global supply by 2012.

Now, Molycorp is ramping up again and hopes to begin mining next year and producing 20, 000 metric tons of rare earth oxides by late 2012.

Jim Sims says Molycorp spends only about 10% on mining.