Molycorp (MCP) Gets U.S. BLM Approval for Mountain Pass Exploratory Drilling
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Molycorp, Inc. (NYSE: MCP) has been granted authorization from the U.S. Bureau of Land Management to commence exploratory drilling at an occurrence of heavy rare earths located near its flagship rare earth manufacturing facility at Mountain Pass, California.
Preliminary exploration at the site has shown rare earth mineralization with an average ore grade of approximately four percent and a relatively high percentage of heavy rare earths, such as terbium, dysprosium, europium and samarium, as well as relatively high percentages of yttrium, neodymium, and praseodymium.
Preliminary exploration at the site has shown rare earth mineralization with an average ore grade of approximately four percent and a relatively high percentage of heavy rare earths, such as terbium, dysprosium, europium and samarium, as well as relatively high percentages of yttrium, neodymium, and praseodymium.
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