Mountain Pass Facility Acquires Drilling Permission With The Help Of Molycorp
Unusual earth manufacturer Molycorp declared today it has been approved U.S. government permission to start investigative drilling for substantial exceptional earth minerals in Mountain Pass, California. The U.S. Bureau of Land Management passed permission to drill at the location, where initial examination has revealed rare earth mineralization. Molycorp president Mark Smith stated the corporation expects starting to drill instantly, with outcomes from the drilling program anticipates in the second quarter of 2012. Molycorp stocks are interchanging greater Friday. Investors may have to observe the Rare Earth/Strategic Metals ETF, which holds Molycorp stock, as well as U.S.-transacted Titanium Metals and Thompson Creek Metals, among others.
Excerpt:
“The U.S. Bureau of Land Management gave it permission to drill at the site, where preliminary exploration has shown rare earth mineralization.”
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