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Molycorp Inc. was an American mining corporation headquartered in Greenwood Village, Colorado. [1] The corporation, which was formerly traded on the New York Stock Exchange, [2] owned the Mountain Pass rare earth mine in California. It filed for bankruptcy in June 2015 after changing competitive circumstances, declining prices on output and a ...
In 2008, Chevron sold the mine to privately-held Molycorp Minerals LLC, a company formed to revive the Mountain Pass mine. Molycorp announced plans to spend $500 million to reopen and expand the mine, and on July 29, 2010, it raised about $400 million through an initial public offering , selling 28,125,000 shares at $14 under the ticker symbol ...
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. [14] 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. [15]
It's been an up-and-down year for Molycorp (NYS: MCP) in 2011.The company ended 2010 on a high note as one of the year's best IPOs. But this year, the stock is down 32.2%, and there is a lot less ...
Already facing a rocky future because of a weakened rare-earth-elements market, Molycorp could be brought to its knees if a discovery in North Korea pans out. Privately held SRE Minerals announced ...
The panic related to rare earth minerals was short-lived and it'll be at least a year before we know if Molycorp will generate enough cash flow from operations just to survive.
To those who observed with awe Molycorp's (NYS: MCP) astonishing five-bagger run within the first year after its 2010 initial public offering, the current share price would appear to have no context.
Molycorp (NYS: MCP) is starting to make moves beyond the mining of rare-earth elements; it's investing in a wind turbine company. Molycorp is contributing to a $35 million capital raise by Boulder ...