Column: Trump 2.0 won’t reverse Biden’s critical minerals push
Donald Trump has described the Inflation Reduction Act (IRA) as a "green scam" and vowed to repeal it after he returns to the White House in January.
Creditors of Molycorp Inc have reached a deal to divide up the value of the largest U.S. producer of rare earth materials, which should help clear the way for the company to exit bankruptcy.
According to court documents, the deal allows for the sale of the company or a reorganization and ends litigation between the company’s unsecured creditors and Molycorp’s lender, Oaktree Capital Management.
The unsecured creditors had accused Oaktree of using its position as lender to place an “exorbitantly expensive noose around Molycorp Group’s neck” and seize control once the miner had been pushed into bankruptcy.
Read more at Reuters
