Mining Operator Molycorp Trims 1Q Loss

MSNBC reported that Molycorp (NYSE:MCP) recorded a smaller first quarter loss than it did in the same period last year.

The market news is quoted as saying:

Management noted that Chinese rear earth oxides prices rose during the quarter along with its exports, which reflects growing demand for rare earth materials by China’s burgeoning manufacturing sector, government-mandated production quotas and a halt to the issuance of new licenses for domestic exploration, among other factors.

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