Molycorp Inc. just announced that it has secured the final funds necessary for the capital build-out of its estimated $781 million expansion and modernization project at its flagship rare-earth oxides facility at Mountain Pass, California. The first phase of its mining project is expected to be operational by next year. The development is significant…

Many rare metals are needed to make photovoltaic panels, rare-earth magnets for wind generators, fuel cells, and high-capacity batteries for hybrid and electric vehicles. But most industrialized nations, including the U.S., are almost entirely dependent on foreign sources for those metals. One way to change the scenario is with more domestic exploration and mining, say…