Two magic words right now.
MCP is up $4.34 at $61.84 following this Bloomberg story:
Molycorp May Double Planned Rare-Earth Metals Output to Meet Global Demand
Molycorp Inc., owner of the world’s largest rare-earth deposit outside of China, may double its planned production to help meet global demand after China cut export quotas.
The Greenwood Village, Colorado-based company’s board asked its management to take a “very hard” look at raising 2012 output to 40,000 tons from 20,000 tons, Chief Executive Officer Mark Smith said yesterday in an interview on Bloomberg Radio. Production will be 3,000 to 5,000 tons this year, he said....MORE