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Molycorp buys rare-earths processor in $1.3 billion deal

12th March 2012

Molycorp has agreed to acquire rare earths processor Neo Material Technologies, making it a key supplier of the scarce materials used in thin-film PV modules in addition to those needed for permanent magnet generators in wind turbines. Molycorp, the largest producer of rare-earth metals outside of China, says it will pay $1.3 billion in cash and stock for Toronto-based Neo Material.

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