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

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)
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