rare-earth minerals

Rare-earth mining company replaces CEO amid SEC probe

Mark Smith, the chief executive of rare-earth mineral mining company Molycorp, was replaced today, a month after the company disclosed it was under a Securities and Exchange Commission investigation regarding the accuracy of its public disclosures.

Rare-earth minerals are key ingredients for mobile phones, as well as wind turbines, hybrid cars, and night-vision goggles. The vast majority of rare-earth minerals are mined in China. But Molycorp is one of a handful of Western companies hoping to elbow into that business. This summer, Smith gave CNET a tour of Molycorp's Mountain Pass, Calif., mine as part of a series on … Read more

Digging for rare earths: The mines where iPhones are born

MOUNTAIN PASS, Calif. -- About 60 miles southwest of Las Vegas, in a mine some 500 feet deep, the beginnings of an iPhone come to life.

But the sleek, shiny iPhone is far, far removed from the rocks pulled out of this giant hole, which looks like a deep crater on the moon. A very deep crater. The ground is covered with rust-colored boulders, rocks, and pebbles. The walls etched with striations in varying shades of black, are notched, every 75 feet or so, creating steps that only a giant could use to climb out of the pit.

The base … Read more

Rare-earth miner Molycorp acquires alloy maker

Molycorp, a U.S.-based supplier of rare earth minerals, said today it has acquired a processing facility to manufacture metals for use as magnets from its minerals used in many green-technology products.

The company paid $17.5 million to Japan-based Santoku for its Arizona-based Santoku America, which has a facility that can make neodymium iron boron (NdFeB) alloys from the minerals mined at Molycorp's Mountain Pass, Calif., facility. Molycorp on Wednesday plans to host a ground-breaking event at the mine, which has been closed since the 1990s.

The acquisition gives Molycorp the ability to make some products for … Read more

Pay dirt: Why rare-earth metals matter to tech (FAQ)

A topic most people once considered as boring as dirt--rare earth minerals--has fast become a matter of international significance with a direct impact on green technologies and consumer electronics.

Rare earth metals are a group of elements that are used in a wide range of products we use every day, including hard drives and hybrid cars. Their properties, notably as light-weight magnets, make them key to the ongoing miniaturization of electronics and the growth of green technologies.

Rare earth minerals have become a hot-topic issue for industrialists and politicians for one simple reason: supply.

China recognized the importance of these … Read more