Molycorp (MCP +7.3%) acquires a 90% stake in rare-earth processing company AS Silmet in a deal...

|By:, SA News Editor

Molycorp (MCP +7.3%) acquires a 90% stake in rare-earth processing company AS Silmet in a deal valued at only $89M, but it provides a foothold in Europe and doubles production capacity. The move "will greatly increase our ability to supply our products" and provide a convenient base for supplying European customers, CEO Mark Smith says. (PR)