Molycorp Modifies Rare Earth Contract, Shares Up

Reuters Africa reported that Molycorp (NYSE:MCP) negotiated a higher price rare earth contract, which sent its share prices up.

The market news is quoted as saying:

The revised contract allows for a higher maximum price to be paid to Molycorp for the lanthanum it manufactures in 2011 and 2012. The change is effective from July 1.

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