Molycorp Announces Joint Venture With Hitachi Metals Tuesday, December 21, 3:22 PM ET
MCP) said today it has entered into a joint venture agreement with Hitachi Metals for the production of rare earth alloys and magnets in the U.S.
The venture would focus on manufacturing neodynmium-iron-boron alloys and magnets used in clean energy, automotive, computer, health care, communications and other technologies.
The parties are expected to sign definitive agreements for a joint alloy venture by April 2011, and the signing of definitive agreements for the rare earth magnets venture will be later in 2011.
Molcyorp said the ventures are integral to its mine-to-magnets business plan. The company noted it is the only rare earth oxide producer in the Western Hemisphere.
Molcycorp shares are trading up over 1.4% Tuesday.
It is a top 10 holding of the Rare Earth/Strategic Metals ETF (AMEX:
REMX), at 5.05% of the portfolio, which is trading up 1% today.
Other U.S. listed stocks in the fund include Thompson Creek Minerals (NYSE:
TC), Titanium Metals ( TIE), and RTI International Metals (NYSE: RTI).
For MarketNewsVideo.com, Iím Sayoko Murase.
Wednesday Sector Laggards: Oil & Gas Exploration & Production, General Contractors & Builders
Related symbols: CPG, FXEN, TOL, GRBK
Wednesday Sector Leaders: Computer Peripherals, Airlines
Related symbols: RSYS, JNPR, HA, UAL
Tuesday Sector Laggards: Precious Metals, Metals & Mining Stocks
Related symbols: BTG, SVLC, ANR, ACI
Wednesday's ETF with Unusual Volume: DIV
Related symbols: DIV, LO, FTR, NRP
Wednesday's ETF Movers: BBH, XOP
Related symbols: MNKD, BMRN, BBG, MCF, XOP, BBH
DUST, MZZ: Big ETF Outflows
Related symbols: DUST, MZZ
Daily Dividend Report: WY, FGP, FRED, BKJ
Related symbols: WY, FGP, FRED, BKJ
Daily Dividend Report: WMB, AMT, HD, CMCSA, MCD, EMC, HAL, PCP
Related symbols: WMB, AMT, HD, CMCSA, MCD, EMC, HAL, PCP
Daily Dividend Report: STT, MMC, NTAP, VIA, A, TMO, APD, CTL
Related symbols: STT, MMC, NTAP, VIA, A, TMO, APD, CTL
Weekly Market Wrap: May 22, 2015
Related symbols: BAC, AAPL, ONTY, HPQ
Weekly Market Wrap: May 15, 2015
Related symbols: AAPL, BAC, AMAT
Weekly Market Wrap: May 8, 2015
Related symbols: BAC, AAPL, NOK, VALE
Week Ahead Market Report: May 18, 2015
Related symbols: BAC, AAPL, VALE, T
Week Ahead Market Report: May 4, 2015
Related symbols: BAC, AAPL, MSFT, ICLD, NOK
Week Ahead Market Report: April 13, 2015
Related symbols: GE, AAPL, BAC, JPM, NOK
All videos » |
Stock market definitions »
Molycorp Announces Joint Venture With Hitachi Metals
| Market News Video | Copyright © 2008 - 2015, All Rights Reserved
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.