#Galaxy Resources may bid for #Molycorp assets

#Lithium miner #Galaxy Resources has emerged as one of a series of bidders for assets of the failed US rare earths producer #Molycorp, which collapsed in mid-2015 with debts of an estimated $US1.7 billion.

#Aluminum Corp. of #China, which is a #US-traded mining company based in #Beijing and known commonly as #Chalco, offered to pay more than $US700 million Molycorp’s non-U.S. assets, sources close to the negotiations said.
Read more: http://www.smh.com.au/business/galaxy-resources-may-bid-for-molycorp-assets-20160106-gm07mz.html#ixzz3wTDNZAJ0

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