HudBay cans $400m notes offering, cites market conditions

Canada’s HudBay Minerals late on Friday said lousy market conditions caused it to call off the $400-million notes offering it had announced earlier in the week. Standard & Poor’s had given the proposed bonds a B rating, saying the TSX-listed...

Molycorp to raise $650m in debt offer

Rare-earth miner Molycorp said on Monday it will raise up to $650-million in an offering of senior secured notes with the proceeds earmarked to help fund its $1.3-billion takeover of Neo Material Technologies. Molycorp's shares fell 1.1% to...

Molycorp lifts Q1 adjusted profit, revenue triples

US-based rare-earth miner Molycorp on Thursday posted a 221% increase in adjusted earnings at $18.3-million or 18c a share, while it took a net loss of $3.47-million or 7c a share. The loss was the result of a one-time noncash expense of...

Noront enters into C$10m private placement with RCF V

Mining junior Noront Resouces on Tuesday said it had entered into a C$10-million private placement with Resource Capital Fund V (RCF V) to advance development of its flagship Eagle’s Nest nickel/copper/platinum/palladium project in north-western...

Molycorp lifts Mountain Pass reserves 27%

Rare earth producer Molycorp on Monday said it boosted reserves at its Californian Mountain Pass mine by 27% to 1.3-million tons of the metals in their oxide form. CEO Mark Smith said exploration drilling at the project could continue to grow...

Tasman's PEA gives Norra Karr a $1.46bn value

Vancouver-based Tasman Metals on Wednesday published the results of a scoping study at its Norra Karr rare earths project in southern Sweden, sketching out a mine that would cost $290-million to build, and have a $1.46-billion net present value....

Great Western CEO’s exit all part of the plan – analyst

Great Western Metals, which plans to sell $80-million in convertible bonds to build a rare earths facility in South Africa, said on Friday Jim Engdahl will step down as CEO. “My stated objective was to position the company for rapid growth with...

Shareholders would have ‘crucified’ board for spurning Molycorp: Neo CEO

While the bosses of Molycorp and Neo Material Technologies painted the US rare-earth miner’s proposed $1.3-billion takeover of the downstream processor and manufacturer of the metals as mutually beneficial and at a fair price, not everyone was...

Molycorp to buy Neo Materials for $1.3bn

Much has been said about potential consolidation in the rare earths sector, and Molycorp on Thursday made the first big one, agreeing to buy Canada’s Neo Material Technologies in a $1.3-billion cash and shares friendly deal. The purchase gives...

Frontier unveils impressive PEA at SA rare earths project

Toronto-quoted Frontier Rare Earths on Tuesday announced the positive results of a scoping study at its Zandkopsdrift project in South Africa’s Northern Cape, which gave the asset a $3.65-billion after-tax net present value at an 11% discount...

Iamgold publishes maiden rare earths resource at Niobec

TORONTO (miningweekly.com) – Midtier precious metals producer Iamgold Corporation on Thursday said it had a 466.8-million ton rare-earth element resource at a deposit just north of its Niobec mine in Quebec. The resource, hosted in carbonatite...

Rare earths demand to surge 33% by 2016, says Kingsnorth

Demand for rare-earth elements, used in a wide range of technologies from precision missiles to iPhones, will grow by about 33% from 2012 to 160 000 t in 2016, Industrial Minerals Company of Australia director Dudley Kingsnorth said on Thursday....