Mining tech firm Outotec warns on project problems, shares plunge

For those with a very long time horizon, the news is good though.

New industry could bring in as much as $60 billion for the country.

Molycorp also warned the first half of 2013 would see weaker performance.

The scandium recovery facility will be built later this year with operations slated to begin in 2014.

386 hybrid vehicles damaged in the March 2011 earthquake and tsunami prompted the Japanese carmaker to design a new extraction process.

The government has set up a three-year, $15 million plan to back mining and oil and gas projects in Afghanistan.

"We have a crisis."

Mergers and acquisitions in the sector fell 30% last year and will continue to be low in 2013.

Eric Noyrez will take over the top job on March 31.