Molycorp Needs a “Liquidity Infusion”

According to MetalMiner, Molycorp (NYSE:MCP) is in need of a “liquidity infusion” to cover cash costs for its operations.

As quoted in the publication:

Molycorp has had a hard time getting enough hydrochloric acid for their processing needs, which is why their quarterly capacity clocked in far below their expected 20,000-ton annual rate.

According to Bedford, the company’s customers are focusing on so-called “magnetic” REEs, especially the light rare earths neodymium and praseodymium and the heavy RE zirconium. “Our customers are interested in securing stable, long-term supplies in neodymium and praseodymium, which comprise the majority of the rare earth content in recent items,” he is quoted as saying.

Click here to read the full article