Molycorp’s Mountain Pass REO $781m project expansion now fully funded

The western hemisphere’s sole rare earth oxides producer, Colorado-based Molycorp, announced Thursday it has now fully funded its US$781 million expansion and modernization project at its flagship Mountain Pass rare earth facility in California.

“Full funding of the capital plan of Project Phoenix is a major milestone in Molycorp’s overall rare earth ‘mine-to-magnets’ business plan,” the company said in a news release.