Molycorp profits soar on higher rare earths prices, volumes

By Jack Elliott
Published: Friday, 11 May 2012

Rare earths producer forecasts production of 8-10,000 tonnes in 2012

US rare earths miner Molycorp Inc. reported adjusted profits of $18.3m for Q1 2012, compared with $2m earned in the same period last year.

Net sales more than tripled to $84.5m, up from $26.3m in Q1 2011, while gross sales reached $89.5m.

Driving the increases was...

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