Rare earths miner Molycorp Inc said that it received bankruptcy court approval for interim financing of $22 million to support its operations, Reuters reported on Thursday. On June 25, the only U.S. supplier of rare earths filed for chapter 11 protection along with its subsidiaries in North America, to restructure $1.7 billion of debt in its U.S. and Canadian operations. At the company's first bankruptcy hearing on June 26, the court denied the company's loan request of $44 million. The court has approved the $22 million financing only on an interim basis, and has scheduled a final hearing on the debtor-in-possession financing for July 20, 2015, Molycorp said on Thursday.
