​Molibdenos y Metales S.A. was formed in 1975 after the division of Carburo y Metalurgia S.A., taking the visionary path of the production and sale of molybdenum oxide, ferromolybdenum and their by-products, while Carburo y Metalurgia maintained its production lines of calcium carbonate and basic ferroalloys.

Subsequently, through its globalization process, Molymet acquired Molymex S.A. in 1994 from C.V. in the area of Cumpas, Sonora, Mexico. In 2000 Molymet Corporation was formed in Baltimore, USA: in 2001 CM Chemiemetall GMBH was bought in Bitterfeld, Sajonia-Anhalt, Germany. They acquired Sadaci N.V. in the Port of Ghent in Belgium in 2003 and at the end of 2005 they formed Molymet Services Ltd in the UK.

In 2010 Molynor plant began operations at the port of Mejillones, located at Chile’s second region and during this year Molymet through ChinaMoly makes a 50% Joint Venture with the company Luoyang High-Tech from China.

In March 2012, Molymet enters into the ownership of Molycorp, where its share is 20.82%.

By the end of March, 2015, the share of Molymet in Molycorp shrank to 18.14%​​.

For Molymet, the share in the Rare Earths industry is the foundation to consolidate its worldwide leadership in the sector of strategic metals.