Limiting Rare Earths Promote Substitution and Alternative Supplies » Mountain Pass CA, Molycorp Minerals Mine
If you have driven between Las Vegas and Los Angeles, you have driven pass this site. The mine closed a few years ago due mainly to competition with Chinese mining companies.
This area has rare earth minerals. In the recent past we have been getting around 97% of these from China. Some are needed by our defense industries. Molycorp would like to re-open the mine and have registered with the Securities and Exchange Commission for an initial public offering to help raise nearly $500 million needed to re-open and expand the mine.