Molycorp Posts Q2 Loss Of $67.6 Million

Reuters reported that Molycorp Inc. posted a loss of $67.7 million last quarter, caused by lower rare earth prices, and the costs of new Mountain Pass mine processing facilities.

As quoted in the report:

The Colorado-based company posted a loss of $67.6 million, or 71 cents a share, for the quarter ended June 30. That compared with a profit of $47.8 million, or 53 cents a share, in the year-earlier period.

Click here to read the full Reuters report.