Lower prices and doubled production costs drive deeper losses for Molycorp

By Laura Syrett
Published: Thursday, 06 November 2014

Weaker rare earths impacted the US-based miner in the third quarter of 2014, bringing into question the company’s ability to meet conditions set by investors in order to access additional funding to ramp up production at Mountain Pass.

Weaker rare earths prices and higher production costs led US miner Molycorp Inc. to report wider quarterly losses for Q3 2014 of $105.2m, or $0.47/share, compared with losses of $69.9m, or $0.43/share, a year earlier.

The company recorded a 7% decline in sales volumes...

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