Molycorp to buy rare earths processor Neo Material

By John Ollett
Published: Friday, 09 March 2012

Molycorp $1.3bn megadeal will give access to China as well as processing capabilities

Rare earth producer Molycorp Inc. has signed a “definitive agreement” to buy leading rare earth processor Neo Material Technologies Inc. for C$1.3bn ($1.31bn).

The deal is intended, CEO Mark Smith said, to “enhance our mine-to-magnets vision and place Molycorp in all steps of the vertical...

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