Chuo Denki Kogyo Obtains Rare-Earth Materials from Molycorp

Chuo Denki Kogyo announced on 1st, the firm will obtain rare-earth oxide for magnet alloy from Molycorp which is a major rare earth company in the United States. The firm tries to diversify the supply-source which is dependent on China in order to minimize material supply risk. Moreover, Chuo Denki Kogyo and Molycorp agreed on commissioning manufacture to supply a part of producted rare earth metals to Molycorp. For it, Chuo Denki Kogyo will increase manufacture capacity of Vietnam plant which produce rare earth metals from scrap materials to two-and-a-half times.