America’s only rare earth mine mired in distressed debt dispute

June 22, 2017

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A long-running fight between distressed debt investors is threatening to scuttle the reopening of the only US mine producing rare metals used in hybrid electric cars and some military hardware. A court-appointed trustee for bankrupt Molycorp Minerals will ask a judge Friday to approve the sale of the last remaining assets associated with a rare-earth mine at Mountain Pass, California. But a lawsuit over mineral rights and complaints by the losing bidder for those assets are complicating efforts to reopen the mine.

Category: General