Articles Tagged "NYSE:MCP"

Jon Hykawy Talks Illegal Mining and Rare Earth Export Quotas

To get more insight into what recent developments could mean for the rare earths sector, Rare Earth Investing News spoke with Jon Hykawy, president and director of Stormcrow Capital. He provided some interesting information for investors focused on the rare earths space, and overall is hopeful that things could be looking up for the sector.

China’s Weakening Hold on the Global Rare Earths Market

China was once responsible for over 90 percent of global rare earths production, allowing it to restrict exports and manipulate prices. However, following a WTO ruling against that practice earlier this year and moves to crack down on illegal mining, China's share of global rare earths production could be dropping.

Molycorp Closes $400 Million Financing

Molycorp Inc. (NYSE:MCP) has closed its previously announced financing, whereby Oaktree Capital Management will provide the company with up to $400 million in secured financing by way of credit facilities and the sale and leaseback of certain equipment at Molycorp's Mountain Pass facility.