Rare earth metals and magnets are a key component in wind turbines, electric vehicles and other advanced technologies. The market is currently dominated by Chinese producers.
Molycorp describes itself as "the only US-based company that is fully integrated acrossRare earth metals company the rare earth mine-to-magnets supply chain".
Chief executive Mark Smith says the 2012 market will continue to be dominated by China, which is forcing industry consolidation and constricting internal production.
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