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The carnage continued for the Molycorp stock on Friday after a week that included nothing but bad news for investors. Shares closed down 2.9 percent at $5.36 and were off nearly 25 percent from Monday's close of $7.10. Already one of the wilder rides
They are essential to making cell phones, wind turbines, hybrid cars and many other products. China enjoys a near-monopoly on the global supply, sparking a race to find new sources of the 17 metals...It comes from that pink and purple polka-dotted
today announced that it has received commitments from institutional investors to purchase US$8.0 million of its common shares and warrants in a registered direct offering in the United States with an additional US$4.0 million oversubscription right.
The company's full year loss grew to $107.4 million for the 12 months to June 30, from $102.6 million. The company obtained its first pay cheque before the end of the fiscal year: a modest $900,000 for rare earths products but a symbolic first step.
The Ministry of Land and Resources announced on Thursday the maximum amount of rare earths for the exploration has been set at 93,800 metric tons for 2013. The cap for the exploration of ion-absorbed-type rare earth ores is set at 17,900 metric tons
Russia will invest $1 billion (636.7 million pounds) in rare earths production by 2018 in a bid to become less dependent on China, which controls more than 90 percent of global supply of the elements used in sectors including defence,
China will cap rare earth production at 93,800 tonnes over the whole of 2013 as part of efforts to rein in unlicensed production in the sector, the country's land and resources ministry said on Friday...China did not announce a national production
According to the interim report s of 32 listed rare-earth producers, total first-half earnings fell 46.6 percent to 2.9 billion yuan ($473.8 million)...Another 27 made a profit, but in each case, the number was lower than in the first half of 2012.
China's rare earth industry has made progress since the State Council implemented a series of new policies, and more actions will be taken to ensure the industry's healthy development, a government official said Thursday...The forum kicked off on
Wall Street punished rare-earth miner Molycorp on Friday after second-quarter results produced another disappointment. The stock closed down 72 cents a share, or 9.7 percent, at $6.69 after being down as much as $1.20 during the day. Once a high