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Greenwood Village-based Molycorp Inc. is partnering with Daido Steel Co. and carmaker Mitsubishi to manufacture rare-earth magnets.
The three-way joint venture will manufacture sintered NdFeB (neodymium-iron-boron) permanent rare-earth magnets for use in earth- friendly automobiles and home appliances.
The partnership will construct a new manufacturing facility in Japan, which will open in early 2013. Operations will eventually expand in the U.S., where Molycorp operates its flagship mine and processing facility at Mountain Pass, Calif.
