CALIFORNIA – Molycorp Inc. of Denver has decided to place its Mountain Pass rare earth facility in the town of the same name on care-and-maintenance. The company blames the dramatic decline in rare earths prices over the past four years.
Operations at the Mountain Pass plant will be suspended by Oct. 20, 2015. The site, equipment and machinery will be maintained and all government regulatory commitments will be met, promised Molycorp. Expanded at a cost of US$781 million, the plant was commissioned in 2013.
The company said its customers will be served from its production facilities in Estonia and China.
More information about Molycorp is posted at Molycorp.com.