Mark Watts, Siobhan Lismore
Flying the flag: in the race for integrated rare earths supply
outside of China, the USA looks to inch ahead of the EU
following Molycorp’s majority buy of processor Silmet
US group Molycorp has acquired a 90% share in AS Silmet, a key rare earths processor based in Estonia, for $89m., the company announced last month. The acquisition allows Molycorp to immediately double its rare earth oxide production to 6,000 tpa.
Molycorp’s acquisition could have significant implications for the future of critical mineral supplies to the European Union, as Silmet is one of only two facilities in the EU able to separate rare earth oxides for use in industry and - critically - the only plant not reliant on Chinese raw materials.
The other EU-based facility...