Molycorp

Molycorp was a company focused on mining and producing rare earth elements, which are essential for modern technologies like magnets, electronics, and renewable energy systems. Based in the United States, it operated the Mountain Pass Mine in California, once the world's largest source of these materials. Rare earths are vital for many high-tech applications but are difficult to extract and process. Molycorp aimed to reduce dependency on foreign sources by developing domestic supply. However, financial challenges and market fluctuations impacted its operations, and the company filed for bankruptcy in 2015, leading to its assets being acquired by other firms.