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Molycorp Said to Get No Bids for Entire Firm in First Round

  • Offers are limited to rare-earths miner's non U.S. assets
  • Buyers show little interest in idled Mountain Pass mine
Updated on

Molycorp Inc. has failed to attract any offers for the entire company as a first-round bidding deadline approaches, according to people with knowledge of the matter.

The potential buyers, mostly rare-earths producers and processors based outside the U.S., are instead looking to take on part or all of the bankrupt rare-earths miner’s overseas business, said the people, who asked not to be named because the process isn’t public. Those bids do not include its idled Mountain Pass mine in California, the people said. Offers could still emerge in a later round.