Molycorp Says Rare Earth Price Plunge May Crimp Mine Funding

Bloomberg Businessweek reported that Molycorp (NYSE:MCP) sees falling rare earth prices impacting new miners’ ability to secure financing.

As quoted in the market news:

Prices of rare-earth minerals have dropped 27 percent from their peak this year as Chinese exports increased, boosting inventories, according to analysis from Bloomberg Industries. China cut its export quotas in 2009, prompting prices and shares of rare-earth mining companies to rise.

Click here to read the full Bloomberg Businessweek report.