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In 2015, Molycorp, the previous owners of the Mountain Pass mine, filed for bankruptcy.At the time, it was the only U.S. producer of rare earth elements. [13] While in bankruptcy, Secure Natural Resources (SNR), a company owned by Molycorp's creditors, including JHL Capital Group, gained control of the mine's mineral rights. [14]
The Mountain Pass Rare Earth Mine and Processing Facility, owned by MP Materials, is an open-pit mine of rare-earth elements on the south flank of the Clark Mountain Range in California, 53 miles (85 km) southwest of Las Vegas, Nevada. In 2020 the mine supplied 15.8% of the world's rare-earth production.
On July 29, 2010, Molycorp, Inc., a newly established parent company of Molycorp Minerals LLC, became a publicly traded firm by selling 28,125,000 shares at $14 in its IPO. The shares were traded under the ticker symbol MCP on the NYSE. In April 2011, Molycorp bought 90% stake in a rare metals processing company Silmet in Estonia for US$89 ...
WASHINGTON — President Trump expressed interest Monday in tying continued aid to Ukraine to the US getting access to rare earth minerals from the war-torn country. “We’re looking to do a ...
The first plan, presented last week by Treasury Secretary Scott Bessent, said the US would get 50% of Ukraine’s rare mineral stock, valued at $500 billion.
U.S. and Danish officials lobbied the developer of Greenland's largest rare earths deposit last year not to sell its project to Chinese-linked firms, its CEO told Reuters, adding it has been in ...
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In a recent interview with Fox News, Trump said he wants the U.S. to get $500 billion worth of Ukraine’s rare earth minerals, and signaled Kyiv had "essentially agreed to do so."