Molycorp Inc., owner of the largest rare-earth deposit outside China, fell 12 percent after Dahlman Rose & Co. cut its recommendation to hold from buy following the mining company’s decision to sell bonds and stock.
Investors from JPMorgan Chase & Co. to BlackRock Inc. are trying to make money from the exploding popularity of iPads and increasing sales of hybrid cars by investing in producers of lithium for batteries.
Talison Lithium Ltd., the world’s largest producer of the material used to power iPads and hybrid vehicles, said it’s studying debt funding for a proposed plant in Western Australia that may cost as much $250 million.
A group of Indiana pension funds that hold first-lien debt of Chrysler LLC objected to a plan to auction the company’s assets and said a U.S. District Court judge should rule on whether the sale is lawful.
Molycorp Inc., owner of the largest rare-earth deposit outside China, fell 14 percent after cutting its 2011 production forecast and posting third-quarter profit and revenue that missed analysts’ estimates.
Molycorp Inc. , owner of the largest rare-earth deposit outside China, said Chinese leaders have said the country may become a net importer of the minerals by 2015 as internal demand grows and it seeks to consolidate its industry.