"Molycorp Set to Announce a Rare Earth Rediscovery"

"An all-but-forgotten rocky outcropping in Southern California contains ore that could help break the country’s dependence on China for certain types of rare earth metals, according to the only American producer of rare earths."

"The deposit contains so-called heavy rare earths, according to the company, Molycorp, which plans to announce its finding Tuesday at a conference in Washington sponsored by the Energy Department, the European Commission and Japan’s trade ministry.

Rare earths — both the 'light'and 'heavy'varieties — are vital to a range of green-energy technologies, including compact fluorescent light bulbs, hybrid-electric vehicles and wind-power turbines."

Keith Bradsher reports for the New York Times October 3, 2011.

Source: NY Times, 10/05/2011