There were mixed reactions from analysts to US rare earths group Molycorp selling 13% of its shares to Chilean speciality metals group Molymet to raise $390m.
Jon Hykawy of Byron Capital Markets highlighted that the deal would give Molycorp access to a new distribution network for speciality metals and could provide technology synergies.
“We believe that Molymet may have seen opportunities to use the solvent extraction capabilities of both Silmet and Molycorp proper to expand the quality and quantity of some of its products,”...