Oct 24 Molycorp , the largest supplier of
rare earths outside China, said it has bought the remaining
shares of its Estonia-based processing facility Molycorp Silmet
Molycorp had bought 90 percent of AS Silmet for about $89
million in April.
"We are enthusiastically exploring options for additional
upgrades and production expansion at this facility," Molycorp
CEO Mark Smith said in a statement.
Molycorp recently established neodymium metal production in
AS Silmet, the company said in a statement.
Last week, Molycorp said it will open a California
processing plant months ahead of schedule, easing the threat to
Western manufacturers posed by Chinese export controls. [ID
(Reporting by Ankur Banerjee in Bangalore; Editing by Don