Resumen de Molycorp fails to secure bidders
Molycorp's proposed dual-track method of bankruptcy exit means it will either be split up and sold in segments or undergo a debt "haircut", before being re-launched.
"This is a welcome and expected response as well as validation of our approach. Rare earth processing can be technically challenging, so we have taken a straightforward approach to get to production. Our strategy is to purchase by product monazite sand. This will serve as a high-grade feedstock for our planned commercial extraction plant," Don Lay, Medallion's CEO, added.
"The market review, completed in conjunction with the updated PFS, validates our strategy and focus on the 'big four' magnet rare earths, which have a strong market outlook, geared to China's emerging green economy and growing consumer demand, and make up over 80% of our potential future revenue," the company's CEO, William Dawes, said.
