Posted on 09/27/2010 10:31:19 AM PDT by epithermal
MolyCorp began mining and processing rare earths at the Mountain Pass mine in 1952 with a 50 year permit. In the early 90s they decided to expand and produce for another 35 years. As they were re-permitting they had a major enviro spill so it was 2004 before they got their new permit. But they really haven’t begun operations as yet because of depressed prices. You should go their website, it explains alot of the problems the industry is facing. Another company, US Rare Earths, has extensive deposits of rare earths that have never been mined.
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