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