Molycorp swings to loss on low prices and high costs
Published: Friday, 03 August 2012
Rare earths producer pins hopes on downstream products; warns cash low
US rare earths
miner Molycorp Inc. fell into
the red for the second quarter of the year as flagging rare
earths prices stunted profits and rising operating costs put
pressure on cash flow.
In its quarterly earnings statement, the Colorado-based
company posted a loss of $67.6m, or $0.71 per share,...