Loading ...Your about right. It makes me more interested in it now though other than a possible short term trade if they have what AI needs and they’re starting to processing it now.
I remember molycorp from way back early 2000x when they did a hype on rare earths that if I remember didn’t have such a big production going on and the chart didn’t good at all. I just hope it’s not a hype now and they have plenty of rare earth to uncover and produce.
Here’s a more detailed breakdown:
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Molycorp‘s Bankruptcy:Molycorp, the previous owner of Mountain Pass, experienced financial difficulties and ultimately filed for bankruptcy in 2015.
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Mountain Pass Mine‘s Acquisition:The mine was purchased at auction in 2017 by a new entity called MP Mine Operations LLC (MPMO), which was a consortium formed by JHL Capital Group and other investors.
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MP Materials‘s Formation:MPMO was later reorganized as MP Materials, a company that now operates and owns the Mountain Pass mine.
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MP Materials’ Operations:MP Materials has since ramped up production at Mountain Pass and has also begun vertically integrating, processing rare earth elements at the mine and manufacturing magnets