Profile: Molycorp Inc (MCP.N)
Molycorp, Inc. (Molycorp) is a rare earth oxide (REO) producer in the Western hemisphere. The Company owns developed rare earth projects outside of China. The Company also owns rare earth oxide and rare metal producer in Europe. The Company is the producer of rare earth alloys in the United States. It has three operating segments: Molycorp Mountain Pass, Molycorp Tolleson and Molycorp Sillamae. On April 1, 2011, the Company acquired 90% interest in AS Silmet located in Sillamae, Estonia. On April 15, 2011, it acquired Santoku America, Inc. On October 24, 2011, it acquired the remaining 9.9% interest in Molycorp Sillamae. On August 22, 2011, Molycorp opened an office in Tokyo, Japan to provide customer support, as well as consulting and technical services to its customers in Japan. In June 2012, the Company acquired Neo Material Technologies Inc.
The Company sells and transports a portion of the REOs it produces at its Molycorp Mountain Pass and Molycorp Sillamae facilities to customers for use in their particular applications. The remainder of the REOs are processed into rare earth metals and rare earth alloys. The Company produces rare earth metals outside of the United States through third-party tolling arrangements and through tolling at its Molycorp Sillamae facility. A portion of these metals is sold to end-users, and it processes the rest into rare earth alloys at its Molycorp Tolleson facility in Arizona. These rare earth alloys can be used in a variety of applications, including but not limited to electrodes for nickel metal hydride battery production; samarium cobalt (SmCo), magnet production, and neodymium-iron-boron (NdFeB) magnet production.
Molycorp Sillamae sells products to customers in Europe, North and South America, Asia, Russia, and other former Soviet Union countries. At the Molycorp Mountain Pass facility, the Company owns an open-pit mine containing rare earth deposits outside of China. In addition to the mine, its Molycorp Mountain Pass facility includes associated crushing, milling, flotation and separation facilities. Its Molycorp Mountain Pass facility is located approximately 60 miles southwest of Las Vegas, Nevada near Mountain Pass, San Bernardino County, California.
The Company’s Molycorp Sillamae facility consists of various manufacturing, research and administration buildings located on 67 acres of land at 2 Kesk Street, Sillamae, Estonia, 200 kilometers from Tallinn, the Estonian capital. The Company’s Molycorp Tolleson facility includes various manufacturing, research, and administration buildings situated on seven acres of land at 8220 West Harrison Street, Tolleson, Arizona, which is just south of Interstate 10 about 15 miles west of Phoenix, Arizona's Sky Harbor Airport. As of December 31, 2011, its Molycorp Tolleson facility had the installed capacity to produce approximately 1,350 tons of ingot cast alloys and 750 tons of strip cast alloys per year.
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