Molycorp's Biggest Shareholder Molymet Planning to Bid on Miner's Assets
- Molymet said to be interested in shuttered Mountain Pass mine
- Purchase would be part of a bankruptcy restructuring
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Molycorp Inc.’s biggest shareholder, Chile’s Molibdenos y Metales SA, is planning to bid on some or all of the company’s assets in bankruptcy, according to three people with knowledge of the matter.
The prospective buyer, known as Molymet, is interested in assets including Molycorp’s largest U.S. mine -- the Mountain Pass facility -- in California, said the people, who asked not to be named because the plan isn’t public.