Molycorp cashes fund to bring US rare earths plant to full production capacity

By Antonio Torrisi
Published: Friday, 12 September 2014

By closing the $400m financial arrangement with Oaktree Capital Management, the US-base rare earths producer can complete improvements at its chloro-alkali processing facility to increase efficiency and reach rare earths production targets, which will ultimately strengthen investor confidence.

US-based rare earths producer Molycorp Inc. yesterday announced it received funding by investment company Oak Capital Management to continue improving its rare earths processing facility at Mountain Pass, California.

According to the financial arrangement, Molycorp will receive $400m from Oaktree, of which $250m cash is immediately available and $150m is...

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