Chinese 2011 REO Restrictions Will Support Strong Rare Earths Pricing-Molycorp CEO

Mineweb reports Molycorp (NYSE:MCP) CEO Mark Smith does not think the supply for rare earths will meet demand.

The market news is quoted as saying,

During the second quarter Molycorp achieved profitability with record net sales of $99.6 million, along with averaged realized sale prices that increase 91% to $72.10 per kilogram of REO equivalent. Average realized sales prices for rare metals niobium and tantalum was $167.50 per kilogram.

For the complete market news, click here.