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What: Shares of rare-earth miner Molycorp
So what: Today's news was a joint venture agreement with Japan's Hitachi Metals that will put Molycorp closer to its goal of doing more than just mining rare earths. The JV would produce rare-earth magnets that could be sold to a variety of industries including technology, health care, and alternative energy. For Molycorp, the move fits with a strategy that it calls "mine-to-magnets."
Now what: It's all very exciting with Molycorp -- the upcoming reopening of its Mountain Pass mine, the lingering questions about the supply of rare earths coming from China, and, of course, the soaring share prices of Molycorp and rare-earth-related investments like Rare Element Resources
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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his Motley Fool CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookiees were harmed in the making of this article.