CEO Mark Smith
Molycorp hired 17 "young-gun" geologists and spent five years researching a way to reinvent the mining and extraction process to not only compete with China on costs, but to also make the process more environmentally sustainable.
Molycorp Minerals purchased the mine in 2008, and with a CEO in place who had once been the environmental compliance attorney for the former Mountain Pass facility, set out to revive and reorganize the rare earth extraction.
The new patented process will allow for a higher rate of recovery, yielding the same amount of product the facility yielded 10 years ago, but using just half the ore.
April 22, 2011 4:00 AM PDT
Photo by: James Martin/CNET
| Caption by: James Martin
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