Molycorp's rare earth mine will finally re-open in California by the end of the year, thanks to co-financing by a Japanese company. 

North America's largest rare earth mine--and the only one in the United States--will finally re-open for business by the end of the year after an eight-year hiatus. The re-opening is prompted, largely, by stiff competition from China, the world's leading supplier and exporter of rare earth metals.

The mine is located in Mountain Pass, California, and is owned by Molycorp Minerals; the re-opening is made possible by a capital partnership with the Japanese firm, the Sumitomo Corporation. 

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