Why is a Goldman Sachs owned mining corporation getting a 3 million earmark?
A mining company owned by Goldman Sachs and two private equity funds is in line to get a $3 million earmark for work at a rare earth elements mine in Mountain Pass, Calif. — raising questions as to why Congress would take on some of the risk for a bailed-out investment giant that’s already making a profit.
Molycorp Minerals’s open-pit mine is one of the world’s richest sources of elements that are used in the production of powerful magnets for precision-guided missiles and smart bombs, handheld communication devices, wind turbines and hybrid cars.
I hope people would write their congressional representatives about this.
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