Molycorp Inc. (NYSE:MCP) has announced that its new Project Phoenix heavy rare earth concentrate facilities situated at Mountain Pass in California have […]
Shares in Vancouver-based Baja Mining Corp. (TSX:BAJ) have surged following confirmation from the company that a Korean consortium has paid USD$90 million to become a 51% owner of Baja subsidiary Minera y Metalurgica del Boleo S.A. de .C.V. (MMB)
Molycorp recovered somewhat on Monday after a brutal Friday when the rare earth miner was beaten down 11.8% – it was also one of the most actively traded stocks on the NYSE – after an analyst raised doubts about its Mountain Pass mine ramp-up plans.
Analysts from Foster Stockbroking told investors to purge their shares in rare earths miner Lynas Corporation as there is no end in sight for the ongoing problems that have forced the company to halt operations in Malaysia.
China is delivering on its promise to consolidate its mining industry with the formation of a new rare earth mega miner, the new “mega-corporation” will “team up” with rare earth producers in the provinces Shandong, Gansu and Sichuan.
Xstrata has approved a $360 million expansion for its McArthur River mine in Australia’s Northern Territory which will make the project the largest producer of zinc in the world.