Molycorp to Produce Rare Earth Materials for Hitachi Metals

15 August 2011 (Last Updated August 15th, 2011 18:30)

Rare earth oxides producer Molycorp has agreed to supply rare earth magnetic materials, including didymium metal and alloy, to Japanese firm Hitachi Metals. Under the three-year agreement, Molycorp will begin to supply the materials when it reaches its Phase 1 production level in 2012 at

Rare earth oxides producer Molycorp has agreed to supply rare earth magnetic materials, including didymium metal and alloy, to Japanese firm Hitachi Metals.

Under the three-year agreement, Molycorp will begin to supply the materials when it reaches its Phase 1 production level in 2012 at its rare earth production facility at Mountain Pass, California.

The company will then produce oxide and metal at its Molycorp Silmet facility in Estonia, and produce alloy from its Molycorp Metals and Alloys facility in Arizona.

Molycorp president and CEO Mark Smith said that the firm's rapidly growing manufacturing supply chain will be able to meet the exact specifications of global technology firms such as Hitachi Metals.