Molycorp profits soar on higher rare earths prices, volumes
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...