Molycorp Provides Q4 Results for Mountain Pass Facility

Molycorp Inc. (NYSE:MCP) announced Q4 2014 rare earth production results for its Mountain Pass facility, noting that output increased year-on-year and nearly doubled from the preceding quarter.

As quoted in the press release:

Mountain Pass completed Q4 of 2014 with 1,328 metric tons (mt) of rare earth oxide (REO) equivalent production. That compares to 1,034 mt in Q4 of 2013 and 691 mt in Q3 of 2014. Full year 2014 production totaled 4,785 mt, compared to 3,473 mt in 2013. Per-unit cash production costs at Mountain Pass also declined sequentially in Q4 of 2014.

Geoff Bedford, president and CEO of Molycorp, stated:

We were pleased to see our production increase in the fourth quarter relative to the preceding quarter and year-on-year. Optimization at Mountain Pass is ongoing, but our Q4 production demonstrates momentum in the right direction.

Click here for the Molycorp Inc. (NYSE:MCP) press release