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Molycorp Inc

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  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. The court has approved the $22 million financing only on an interim basis, and has scheduled a final hearing on the debtor-in-possession financing for July 20, 2015, Molycorp said on Thursday.

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. On June 25, the only U.S. supplier of rare earths filed for Chapter 11 bankruptcy protection along with its subsidiaries in North America, to restructure $1.7 billion of debt in its U.S. and Canadian operations.

  • China, the world's dominant producer, was choking supply and investors were stampeding into the hottest ticket in town. The ensuing bust was equally spectacular with prices collapsing as buyers went on strike and China, under international pressure, loosened its stranglehold. With Molycorp and its Australian peer, Lynas, struggling to stay afloat, all the old...

  • WILMINGTON, Del., June 26- Molycorp Inc failed to get approval from a U.S. Judge Christopher Sontchi agreed with the objection by an affiliate of Oaktree Capital Management that Molycorp could not justify its need for the money, which would deepen the company's insolvency. Oaktree, which had loaned the company about $250 million in September, argued Molycorp was...

  • Molycorp files for Chapter 11 bankruptcy protection Thursday, 25 Jun 2015 | 10:56 AM ET

    GREENWOOD VILLAGE, Colo.— Rare earth metals company Molycorp has filed for Chapter 11 bankruptcy protection. The filings include Molycorp Inc. and its North American subsidiaries, as well as some non-operating subsidiaries outside North America. Operations outside North America, with the exception of non-operating companies in Luxembourg and Barbados,...

  • June 25- Wall Street opened higher on Thursday as data showed that the U.S. economy was on the path to recovery after consumer spending recorded its largest increase in nearly six years. The Commerce Department said consumer spending increased 0.9 percent last month, the biggest gain since August 2009, after a 0.1 percent rise in April. Weekly jobless claims rose...

  • June 25- Wall Street was set to open higher on Thursday as data showed that the U.S. economy was on the path to recovery after consumer spending recorded its largest increase in nearly six years. The Commerce Department said consumer spending increased 0.9 percent last month, the biggest gain since August 2009, after the 0.1 percent rise in April.

  • June 25- Molycorp Inc, the only U.S. supplier of rare earths, filed for Chapter 11 bankruptcy protection on Thursday along with its North American subsidiaries to restructure $1.7 billion of debt in its U.S. and Canadian operations. Molycorp, whose shares have lost 86 percent of their value in the past year, said it had obtained agreement for up to $225 million in new...

  • June 25- Rare earths miner Molycorp Inc filed for Chapter 11 bankruptcy protection on Thursday along with its North American subsidiaries to restructure $1.7 billion of debt in its U.S. and Canadian operations. Molycorp has also obtained agreement for up to $225 million in new debtor-in-possession financing, it said in a statement. The Birmingham, Alabama-...

  • *No resolution as yet on Greece debt crisis. June 4- U.S. stock futures, weighed down by a selloff in global bond markets, trimmed some losses after weekly employment data showed U.S. jobless claims fell more than expected. Initial claims for state unemployment benefits dropped to 276,000 for the week ended May 30.

  • US STOCKS-Futures fall on global bond selloff Thursday, 4 Jun 2015 | 7:18 AM ET

    *The European Central Bank's insistence on Wednesday that there was no need to adjust monetary policy in the face of volatility also rattled financial markets. *The Greece stand-off continued with Greek Prime Minister Alexis Tsipras emerging from late-night talks with senior EU officials in Brussels saying a deal with creditors was "within sight," but...

  • MELBOURNE, June 2- Shares in Australia's Alkane Resources rallied on Tuesday after it moved a step closer to starting work on a A $1 billion rare earths and exotic metals project. Alkane, principally a gold producer, won approval from the state of New South Wales to build the Dubbo Zirconia Project, which aims to churn out zirconium, hafnium, niobium, yttrium and...

  • *Intel falls on Altera buy, weighs on S&P, Nasdaq. June 1- U.S. stock were choppy in early trading, giving up their gains from a strong opening, as investors digested a slew of data that sent a mixed picture on the pace of the economy's recovery. Boston Fed President Eric Rosengren said Monday that he would like to begin raising rates as soon as possible, but risks from the...

  • June 1- Molycorp Inc said it missed a $32.5 million interest payment on its senior secured notes, heightening concerns that the struggling rare earths miner could file for bankruptcy before the end of the month. Molycorp's shares fell as much as 21 percent in early trading. Molycorp, which reported a loss for the thirteenth straight quarter last month, had warned...

  • Molycorp has a 30- day grace period to make the payment, after which it would be considered in default, the company said on Monday. Molycorp, which posted its thirteenth consecutive quarterly loss last month, had warned its annual report in March that it might not have enough money to stay afloat if its debt restructuring efforts failed. Missing the loan repayment...

  • *Intel to buy Altera for $16.7 bln. June 1- Wall Street was set to open higher on the first day of the month, helped by an almost five percent rally in Chinese stock markets and ahead of a string of domestic economic data. "It's the first day of the month and news out of China is bullish," said Andrew Barber, chief market strategist at Eagleview Capital in Delaware.

  • June 1- U.S. stock index futures were higher on Monday, after closing down the previous week, as investors focused on the bright spots in China's factory activity data and ahead of a string of domestic economic data. *Intel shares were up 0.6 percent at $34.68 in premarket trading on reports that the company was nearing a deal to buy programmable-chip maker Altera.

  • March 17- Molycorp Inc lost about a third of its market value on Tuesday after its auditor raised "substantial doubt" about the rare earths miner's ability to stay in business, putting the United States' only domestic supply of the technology metals at risk. "We have incurred, and continue to incur, operating losses," Molycorp said in its annual report.

  • March 17- Molycorp Inc's shares fell 14 percent in premarket trading on Tuesday after the rare earths miner's auditor raised doubts about its ability to continue as a "going concern" and the company posted a loss for the twelfth quarter in a row. Molycorp said on Monday it had engaged financial and other advisers to restructure its debt, but may not have enough...

  • March 17- Molycorp Inc's shares were set to open lower on Tuesday after the rare earths miner's auditor raised doubts about its ability to continue as a "going concern" and the company posted a net loss for the twelfth quarter in a row. Molycorp said it had engaged financial and other advisers to restructure its debt, but may not have enough money to stay afloat if the...