Molycorp told investors it has found the rare-earth ores at its mine in Mountain Pass, California.
Supplies of metals such as neodymium, a key component used in permanent-magnet wind turbines, have become a source of anxiety to the industry due to the dominance of China in rare-earth mining.
This has led major turbine groups such as Siemens to establish formal links with producers in a bid to secure access to the materials, which are also used by a host of other high-tech industries.
Molycorp – which last month became an investor in US turbine developer Boulder Wind Power – says its initial evaluation of the Mountain Pass deposit is “encouraging” and it features the most sought-after “heavy” rare-earth metals.
However,
