 In 2007, Molycorp Inc. was merged with the Pittsburg & Midway Coal Mining Co. to form Chevron Mining Inc.In 2008, Chevron Mining sold the Mountain Pass rare earth mine and the rights to the Molycorp name to Rare Earth Acquisitions LLC, a special purpose company which was renamed Molycorp Minerals LLC.The company was owned by Resource Capital Funds, Pegasus Partners IV, LP, The Goldman Sachs Group, Inc., Traxys North America LLC and Carint Group LLC.