The Chapter 11 trustee for Molycorp Minerals LLC, the unit that owns the rare earth miner’s main facility left behind in bankruptcy after plan confirmation, told the Delaware bankruptcy court Monday that up to $5 million in financing will keep its case, and sale process, alive.

During a hearing in Wilmington, Vincent J. Marriott III of Ballard Spahr LLP, attorney for court-appointed Chapter 11 trustee Paul E. Harner told the court that he had withdrawn the request to dismiss or convert the case for Molycorp Minerals, which owns what was once one of the leading source of rare earth minerals in the country, into a Chapter 7 liquidation after a unit of Lexon Insurance Co. offered short-term bankruptcy financing that would both fund bankruptcy administrative costs, including professional fees, and the costs of keeping the facility idled.

"A liquidity solution was achieved," Marriott told U.S. Bankruptcy Judge Christopher S. Sontchi, who signed an order for the financing. "The trustee had identified an adviser to conduct a sales process."

Molycorp filed for Chapter 11 protection in June 2015, listing $1.7 billion in debt, and idled operations at the Mountain Pass facility two months later.

The mine was once one of the world’s leading sources of rare earths, minerals used in a range of high-tech industries and products, including smartphones and systems for satellites and fighter jets. China, however, now provides more than 90 percent of the world’s supply.

The Molycorp Minerals trustee is represented by Matthew G. Summers, Tobey M. Daluz, Leslie Heilman, and Vincent J. Marriott III of Ballard Spahr LLP.