Tag Archive for: minerals

Minerals Technologies Inc Says On October 22, It Detected A Ransomware Attack Impacting Certain Of Its Information Technology Systems – SEC Filing

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Minerals Technologies Inc Says On October 22, It Detected A Ransomware Attack Impacting Certain Of Its Information Technology Systems – SEC Filing

Published: 10/26/2020 22:28 GMT
Minerals Technologies Inc (MTX) – Minerals Technologies Inc Says on October 22, It Detected a Ransomware Attack Impacting Certain of Its Information Technology Systems – Sec Filing.
Minerals Technologies Inc Says Network Security Incident Primarily Impacted Co’s Internal Corporate Functions.
Minerals Technologies Inc Says Co Currently Does Not Believe That Any of Its Customers Or Suppliers Were Impacted As a Result of This Incident.
Minerals Technologies Says Security Event Included Unauthorized Access to Personal Data of Employees, Former Employees and Their Dependents.
Minerals Technologies Says Co Took Steps to Restore Its Network and Resume Normal Operations As Quickly As Possible.
Minerals Technologies Says Co Launched Investigation Working With Cybersecurity Firms, Engaged Legal Counsel, Notified Law Enforcement.
Minerals Technologies Says Co in Process of Notifying Appropriate Governmental Authorities.
Minerals Technologies Says at Current Time and Throughout Incident, Co’s Manufacturing Sites Continued to Operate Safely and With Limited Interruption.
Minerals Technologies Says Co Does Not Currently Believe Incident Will Have Material Impact on Its Business, Operations Or Financial Results.
Revenue is expected to be $388 Million
Adjusted EPS is expected to be $0.86

Next Quarter Revenue Guidance is expected to be $407.38 Million
Next Quarter EPS Guidance is expected to be $0.95

More details on our Analysts Page.

Source…

Tariffs on Chinese rare-earth minerals create a sticky problem for US competitors

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truck driving out of rare earth minerals mine

Enlarge / A pick-up truck makes its way out of the Mountain Pass open pit mine in California in 2009. (credit: Photo by Jacob Kepler/Bloomberg via Getty Images)

President Trump’s tariffs on rare-earth metals from China should have been a boon to the only US rare-earth minerals mine in California. But a recent Wall Street Journal article illustrates that, given the complex nature of the global economy, those tariffs have actually put the Mountain Pass mine in a tough place.

A hedge fund recently bought Mountain Pass out of bankruptcy after several companies attempted to turn a profit from it. Six months later, the WSJ wrote, Trump announced tariffs that should have helped the mine supply more domestic rare-earths at a higher price.

However, most of the world’s rare-earth processing facilities are in China, which also produces more than 90 percent of the world’s rare-earth minerals. To develop its metals as cheaply as possible, Mountain Pass has first been shipping its ore to China, where the processed metals are then sold on the world market to makers of smartphones, laptops, and magnets that go into electric car motors and giant wind turbines.

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