Friday, December 11, 2015

"Molycorp Said to Get No Bids for Entire Firm in Opening Round" $MCP

Story today. Nobody wants the Mountain Pass mine!

1 comment:

CP said...

Molycorp’s former rare-earth mine, located between the Mojave Desert and Death Valley in Mountain Pass, California, is the only one in the U.S. The mine, the last of the bankrupt company’s assets, was bought in June by a group that drew objections from rival bidders, who said the winner had ties to the Chinese government.

Michael Silver, chief executive officer of closely held American Elements Corp., has urged President Donald Trump to nationalize the mine. Any attempt to make the mine commercially viable would fail because no one can compete with China, which accounts for almost all the world’s rare-earth production, Silver said then.