Molycorp asks court to OK sale of all Molycorp Metals & Alloys assets

By Sheri Kasprzak

New York, March 18 – Molycorp, Inc. filed a motion Friday seeking approval from the U.S. Bankruptcy Court for the District of Delaware to sell substantially all the assets of subsidiary Molycorp Metals & Alloys, Inc. for $2.5 million.

The assets to be sold are associated with Molycorp Metals’ Tolleson, Ariz., manufacturing facility, including real property at 8220 W. Harrison St., Tolleson, Ariz. Eutectix, LLC is the purchaser. The sale will be conducted free and clear of all liens, claims or encumbrances, the motion said.

Molycorp also seeks an order from the court stating the purchaser, Eutectix, is not liable for certain claims related to or connected with the Tolleson assets that may arise before closing.

A hearing about the sale is scheduled for April 8.

Molycorp, based in Greenwood Village, Colo., produces materials from rare earth minerals. The company filed for bankruptcy June 25, 2015 under the Chapter 11 case number 15-11357.

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