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Molycorp has entered into a five-year agreement to supply rare earth products to W.R. Grace. The contract can be extended at Grace’s option for an additional three years.
Under the first contract, Molycorp has agreed to supply Grace with “a significant amount of its current Mountain Pass rare earth production through mid-2012.” Molycorp produces about 3,000 mtpy of commercial rare earth materials. By the end of 2012, Molycorp expects to produce 20,000 mtpy following completion of modernization and expansion efforts at its Mountain Pass, CA, processing facility.
Under the second contract, Molycorp has agreed to supply over 75% of its lanthanum production to Grace, which will use the material in fluid catalytic cracking catalysts and in additives for petroleum refining. The second contract is subject to completion of Molycorp’s new production facility.
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