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Molycorp, Inc Common Stock Message Board

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  • victorv84 victorv84 Sep 22, 2011 12:39 PM Flag


    53---33..... enough...
    Molycorp Inc. (MCP), owner of the largest rare-earth deposit outside of China, said the U.S. should focus on boosting production rather than trying to pressure China to export more of the elements used in electronics.

    Increasing domestic output would make the U.S. less dependent on China while creating jobs in mining and industries that need rare earths, Molycorp Chief Executive Officer Mark A. Smith said today in prepared testimony to a congressional subcommittee. China is reducing rare-earth exports to encourage companies to locate manufacturing operations there, he said.

    “By remaining focused on what we can do to get our own supply chain up and running, we will not only be in a stronger strategic position, but we will create an important foundation that can help catalyze manufacturing job growth in this country,” Smith said

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