[1] The corporation, which was formerly traded on the New York Stock Exchange,[2] owned the Mountain Pass rare earth mine in California.
In April 2011, Molycorp bought 90% stake in a rare metals processing company Silmet in Estonia for US$89 million.
[13] Molycorp filed for bankruptcy protection in late June 2015, after changing competitive circumstances, declining prices on output and a 2014 restructuring.
In the reorganization process of Molycorp, the mine was separated from the company and scheduled to be sold in March 2017 at the auction in bankruptcy court, with a $40 million opening offer.
[17] US-based fluid catalytic cracking (FCC) catalyst manufacturer W.R. Grace & Co. similarly signed a supply agreement with Molycorp in November 2010.
[18] Molycorp was to supply W.R. Grace & Co. with an undisclosed amount of lanthanum and cerium, essential components for FCC catalyst manufacturing through 2015.