Sumitomo gains a seven-year guaranteed mineral supply contract from Molycorp after investment in rare earths mining company following China's decision to limit exports to Japan following a diplomatic incident in the summer.
Japan-based conglomerate Sumitomo has agreed to invest $100m in Molycorp, a US-based rare earth mining company and provide an additional $30m of debt.
Sumitomo gains a seven-year guaranteed mineral supply contract following China’s decision to limit exports to Japan following a diplomatic incident in the summer.
