Rare earths miner Molycorp invests in Boulder Wind Power

US-based turbine developer Boulder Wind Power has won investment from mining firm Molycorp, securing a supply of rare earth magnets for its innovative technology.

Molycorp has invested in part of Boulder Wind's $35m capital-raising effort, buying convertible preferred stock. It did not reveal the size of its investment.

The mining firm will also gain a seat on Boulder Wind’s board and become the preferred provider of rare earth magnets and alloys.

“Gaining access to Molycorp's magnetic rare earth materials positions this superior technology to accelerate rapidly and our company to grow with it,” says Sandy Butterfield, chief executive of Boulder Wind Power.

Wind turbines using rare-earth magnets are increasingly popular as they allow manufacturers Log in to read complete article.

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