News provider Financial Times said Sumitomo's was "considering a range of possibilities," including an investment in mining company Molycorp.
Japan-based conglomerate Sumitomo is reportedly considering taking a strategic stake in mining company Molycorp, which listed in New York earlier this year to raise funds for a new mine digging up so-called rare earths.
News provider Financial Times said Sumitomo’s was "considering a range of possibilities," including an investment.
China produces 97% of the world’s rare earths but has limited exports to Japan after a diplomatic incident.
