You are here

When the rare earth castle came crashing down

Molycorp, which last week filed for bankruptcy, is a bet gone awry as reports of scarcity proved unfounded

BT_20150630_KVRARE30_1746937.jpg
Investors who bought into Molycorp at its July 2010 IPO at US$14 a share saw it touch US$79.16 in May 2011. Its California mine was pitched as the only North American source of rare earths.

New York

IN late 2010, two questions were on the minds of many commodities investors: What are rare earths? And where could they buy some?

The group of 17 obscure, difficult-to-pronounce minerals, used in hot-ticket items like smartphones, electric cars and wind turbines, were

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom