Ceramic Industry News

Molycorp Withdraws Bid for Great Western Assets (posted 6/17/09)

Molycorp Minerals has terminated discussions with Great Western Minerals Group and has withdrawn from any further negotiations.

Molycorp Minerals, LLC recently announced that it has terminated discussions with Great Western Minerals Group Ltd. in regard to the letter of intent pursuant to which Molycorp would have acquired a controlling interest in (or assets of) Great Western, and has withdrawn from any further negotiations with Great Western.

“After several failed attempts to structure a deal with Great Western, it became clear that we would not be able to reach agreement on terms acceptable to both parties,” said Mark A. Smith, CEO of Molycorp. “Accordingly, we have allowed our letter of intent to expire and have withdrawn from any further negotiations with Great Western. This development in no way changes or delays Molycorp’s Mine to Magnets business strategy. While a transaction with Great Western would have been expedient, we already had plans in place to add manufacturing capabilities for rare earth alloys and powders before we were approached by Great Western. We will simply move forward with those original plans on our original time table.”

For more information, call (303) 843-8040 or visit www.Molycorp.com. Great Western’s website is located at www.gwmg.ca.


Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.



Image Galleries

2015 Ceramics Expo

Snapshots from the 2015 Ceramics Expo, April 28-30, Cleveland, Ohio. Posted: May 14, 2015.


Ceramics Expo podcast
Editor Susan Sutton discusses the upcoming Ceramics Expo with event director Adam Moore.
More Podcasts

Ceramic Industry Magazine

CI May 2015 cover

2015 May

Our May issue covers bulk batching, pneumatic conveyors, high-temperature furnaces and more! Be sure to check it out today.

Table Of Contents Subscribe

Daily News

We know where you find the latest ceramic industry news (ahem), but where do you catch up on the rest of your daily news?
View Results Poll Archive


M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px


CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!