Nothing unexpected in the release, here's a Bloomberg/BusinessWeek twofer:
Mining operator Molycorp narrows 4Q loss
Mining operator Molycorp Inc. narrowed its fourth-quarter loss as revenue rose with help from higher minerals prices.Molycorp Says China May Be Net Rare-Earths Importer by 2015
The Colorado company said Wednesday it lost $7.9 million, or 10 cents per share, compared with a loss of $9.1 million, or 22 cents per share, a year earlier.
The company said excluding some items such as charges for stock-based compensation and equipment write-offs, the company would have earned 3 cents per share....MORE
Molycorp Inc., owner of the largest rare-earth deposit outside China, said Chinese leaders have said the country may become a net importer of the minerals by 2015 as internal demand grows and it seeks to consolidate its industry.
“Senior government leaders in China consistently stress China’s intent to continue to restrict rare earth exports, and the possibility of China becoming a net rare earth importing nation by 2015,” the Greenwood Village, Colorado-based company said today in a statement announcing fourth-quarter earnings. “China’s internal consumption of rare earths will continue to increase as its gross domestic product increases.”
China controls 95 percent of global supply, according to the U.S. Geological Survey. Rare earths -- 17 chemically similar metals used in products including batteries, electric cars and wind turbines -- have soared in price since July, when China said it would cut exports by 72 percent. Molycorp restarted operations in December at its mine near Mountain Pass, California, that had been shut since 2002....MORE
And two from Benzinga:
Both firms participated in MCP's IPO.
