Molycorp

Rare earth juniors have a five-year window: John Kaiser

In 1992 in the junior mining sector, nobody was paying attention to diamonds. Then Lac de Gras was discovered. Within four years, there were 200 diamond exploration companies. Twenty years later, there are six junior companies still in the game. The REE junior space will be similar, but in a shorter timeframe.

Molycorp's rare earth reserves jump 36%

U.S.-based Molycorp, Inc., one of the only non-Chinese producers of rare earths, announced today that its proven and probable reserves of rare earth minerals at its Mountain Pass, California facility have increased by 36 percent, according to a new independent estimate.

Molycorp fires up new rare earths plant

Molycorp, the company in the process of expanding and modernizing a mine and processing plant closed down in 2002, this week announced the sequential start-up of its Project Phoenix rare earth manufacturing facility.

Colorado class action complaint accuses Molycorp execs of fraud

Was Molycorp's promotion of the Mountain Pass mine-attracting the attention of U.S. lawmakers and the international business community to looming domestic rare earths shortages-little more than hype?

Molycorp CEO Doubles Down On Shares Even As The Market Doubts Increase

On August 15th, Mark Smith, the president and CEO of rare earth producer Molycorp (MCP), made one of the strangest insider purchases I have ever observed. Just two months earlier he dumped his last tranche of stock for a total 259,260 shares on the year at a gross value of $13.1M.

Molycorp, Daido, Mitsubishi form next generation rare earth magnets JV

Molycorp, Daido Steel, and Mitsubishi have formed a joint venture to manufacture and sell next-generation neodymium-iron-boron (NdFeB) permanent rare earth magnets, producing greater performance with less reliance on dysprosium.

China's rare-earth domination keeps wind industry on its toes

Wind turbine manufacturers are scrambling to find alternatives to a key element used in direct-drive permanent magnet generators (PMGs), thanks to skyrocketing prices and diminishing supplies of crucial rare earths.

China currently provides 94% of the world's rare earths, including neodymium and dysprosium, which are used in the magnets for direct-drive wind turbine motors. However, the Chinese government has put new restrictions on rare-earth mining that have resulted in lower supply levels, according to a report from research firm Roskill Information Services (RIS).

Three strikes: Molycorp strikes out in Washington

As exciting as the critical metals sector is becoming, Gold Stock Trades' Jeb Handwerger warns that the public is being bombarded with misleading information, even at the highest levels of commerce and policy. In this exclusive article for The Critical Metals Report, Jeb gives his take on Molycorp's recent presentation to Congress, and outlines key points investors and policymakers alike should use to inform their decisions.

World scrambles for rare earths after latest China crackdown

Reuters reports prices of most rare earth elements – used in consumer electronics, defence and green energy industries – have risen since Wednesday after of local government crackdown on mining, with three major producers slated for closure.

The news follows an announcement from the EU that it is building a stockpile of a variety of REEs and that a high-level meeting of officials from Europe, the US and Japan will take place in Washington early next month to discuss supply security. The price of some REEs such as samarium oxide used in jet fighter electrical systems has increased 25-fold in just three years.

Molycorp sells 50 times more rare earth oxides

Rare earths miner Molycorp on Thursday swung into profit in the second quarter as it ramped up production at Mountain Pass, California, once the world's largest supplier of the sought-after elements used in anything from iPods to stealth helicopters.

Net income came to $48.8 million compared with a loss of $23.3 million a year ago. Revenue came in just shy of $100 million, compared with only $1.9 million a year ago.

Commenting on the results the company said global demand for rare-earth elements remains "very high" and supply outside China, which controls more than 95% of world output, is tight.

KBR secures EPC contract for US project

Molycorp's subsidiary has awarded an engineering, procurement and construction contract to KBR to construct a new chlor-alkali plant at its $781m Project Phoenix in California.

Molycorp: Rare Earths – confounding the pundits

The Rare Earths space has had more revivals than the Sound of Music. Over the last 18 months this "go-go" corner of the mining world has had it's ups and downs and several of the downtrends tempted ourselves and others to call an end to the boomlet.

Molycorp shares popped: What you need to know

Market Oracle reported on recent gains in shares of Molycorp (NYSE:MCP).

The market news is quoted as saying:

The price drivers today are plentiful: Financial Times reports that rare earth materials are being stockpiled in China, Piper Jaffray upgraded Molycorp to a buy, and a host of analysts piled on with positive assessments of the rare earth industry in general.

Molycorp's Mountain Pass REO $781m project expansion now fully funded

The western hemisphere's sole rare earth oxides producer, Colorado-based Molycorp, announced Thursday it has now fully funded its US$781 million expansion and modernization project at its flagship Mountain Pass rare earth facility in California.
"Full funding of the capital plan of Project Phoenix is a major milestone in Molycorp's overall rare earth ‘mine-to-magnets' business plan," the company said in a news release.

Molycorp announces proposed offering of $200 million of convertible senior notes due 2016

Molycorp, Inc. (NYSE: MCP), the Western hemisphere's only producer of rare earth oxides, today announced that, subject to market conditions, it intends to offer $200 million principal amount of its Convertible Senior Notes due 2016 (the “Notes”) in an offering exempt from the registration requirements of the Securities Act of 1933. The Notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. In addition, Molycorp intends to grant the initial purchasers of the Notes an option to purchase an additional $30 million principal amount of the Notes.

Rare earths a magnet for investors again

This is what happens when you corner a market the way China has done with rare earth elements: Statistics collected in Hong Kong show exports of rare earth metals have shrunk by half over the past year. Over the same period, the value of these exports jumped 10-fold.

It’s hard to argue with these kinds of numbers. After the stocks prices of the few big players pulled back from recent highs investors saw it not as evidence of sobriety returning to the market, but simply as a buying opportunity.

While the REE market has come down to earth, no-one is rushing for exits

After sitting idly by and watching China monopolize the industry – the country is responsible for upwards of 95% of global supply – a rush to bring rare earth mine to production is on: There are now 251 rare earth projects being undertaken by 165 different companies in 24 countries.
While prices have been rising rapidly, rare earth production is an expensive and complex undertaking. Very few projects can be developed for under $1bn and as the rest of the world shuttered rare earth mines metallurgical skills languished along with it.

Dow Jones Newswires: Molycorp Q1 loss narrows sharply but results miss street

Dow Jones Newswires reports:

Rare-earth mining company Molycorp Inc.'s (MCP) first-quarter loss narrowed due to higher sales volume and a jump in rare-earth prices, although the company's adjusted profit and sales growth missed analysts' expectations. Shares fell 5% to $63.13 in after-hours trading, after closing the regular session down 7.2%. The stock is up 33% this year through Tuesday's close.

Rare earth supplies to remain tight for next 5 years despite promises of new production

Demand for rare earth metals is likely to continue growing at double digit annual rates for the foreseeable future but, the supply side does not look quite as rosy.

According to Molycorp CEO, Mark Smith, while a lot of production has been forecast from a number of small producers, very little of it is likely to come on stream in five years.

Future Looks Bright for Molycorp: A Closer Look at the Rare Earth Metal Giant

Purchasing commodity producing equities has been extremely profitable for most investors over the past year as a weak dollar and supply issues have driven up everything from soft commodities to industrial and precious metals. The sharp gains have also carried over to the dynamic rare earth metal market where fears over Chinese export limits as well as the metals’ critical nature to a variety of 21st century technologies dominate the price movements of this group of elements. In fact, according to Metal-Pages, from October 2009 through December 2010, prices for rare earths have risen by approximately 780% on average.

Molycorp’s $89m deal for AS Silmet doubles REO production capacity

The US$89 million shares-and-cash acquisition of Estonia's AS Silmet by Colorado's Molycorp means both rare earth companies "will be able to take advantage of the very robust price situation in the market right now," Molycorp CEO Mark Smith said during a conference call with analysts Monday.