Rare Earths, The Lanthanides, Yttrium And Scandium - A Look At 2008 Activity

Rare earths were not mined in the United States in 2008. However, processing of intermediate rare-earth concentrates continued throughout the year at the Mountain Pass Mine in California. Consumption of refined rare-earth products increased. U.S. rare earth imports were primarily from China, with lesser amounts, in decreasing order, from France, Hong Kong, Japan, Austria and Russia. The United States imported 100 percent of its supply of yttrium metal and compounds primarily from China. United States In 2008, lanthanide concentrates were processed by Chevron Mining Inc. (previously Molycorp Inc.) at its mine site at Mountain Pass, CA. Chevron Mining sold its entire holdings in the rare earths mine to Molycorp Minerals LLC in September and operations continued at the site through-out 2008. Major uses for these mineral commodities were in automotive catalytic converters, petroleum fl uid-cracking catalysts, permanent magnets, glass-polishing compounds, ceramics, metal-alloying additives, phosphors and recharge-able batteries. Three domestic companies produced and sold lanthanide intermediate concentrates and refined products. Chevron Mining sold its interests in the Mountain Pass Mine to Molycorp Minerals LLC on Sept. 30, 2008. Molycorp Minerals LLC is an investment company owned by Resource Capital Fund IV L.P., Pegasus Partners IV, LP, The Goldman Sachs Group Inc., Traxys North America LLC, Carint Group LLC and Mark Smith. The Molycorp operation previously mined the rare earth fluocarbonate mineral bastnäsite by hard-rock surface methods, and the mine remained on care and maintenance in 2008. Molycorp maintained significant stocks of bastnäsite concentrates, intermediate concentrates and high-purity rare earth compounds at its operations at Mountain Pass. In October 2007, Chevron Minerals completed phase one of its three-stage plan and restarted the rare earth separation plant at Mountain Pass. The company also processed intermediate rare earth concentrates from existing stocks during the first three quarters of 2008. Molycorp Minerals LLC maintained production in the last quarter of the year. The mine at Mountain Pass has been closed since 1998. Future plans are to restart processing of stockpiled bastnäsite concentrates followed by reopening of the mine.