Molycorp at crossroads as miner considers restructuring or full asset sale
Published: Wednesday, 04 November 2015
In an attempt to exit bankruptcy protection measures, Molycorp has put forward a plan proposing two options. The company will either be split up and be sold, or will write-down its debts to creditors, and emerge as a continued single entity.
US-based rare earths miner, Molycorp Inc.,
which filed for Chapter 11 bankruptcy protection in the state
of Delaware in late June this year, has announced details of
its emergence plans, consisting of two options.
The first would entail a substantial de-leveraging, or the
wiping of much of its outstanding $1.9bn debts,...