Dallas, Texas 12/25/2013 (FINANCIALSTRENDS) – Last week, Molycorp Inc (NYSE:MCP) announced that the final-unit of the company’s multi-stage Cracking-Plant at the Mountain Pass has completed its commissioning and is now operational. This Cracking Plant is a segment of a multi-stage chemical-process that has been designed to raise the rare-earth recovery rates of the facility, boost its production throughput, and also contribute to lower unit-production costs.
Molycorp Inc (NYSE:MCP) officials said that this Cracking Plant, as well as other plants that are a part of the company’s new Mountain Pass facility, will continue to be enhanced to increase their operating efficiencies and to bring down costs.
In the trading session on Tuesday Molycorp Inc (NYSE:MCP) shares opened at $4.79, climbed to an intraday high of $4.87and closed at $4.81. Close to 2.12M shares were traded on Tuesday and the average volume of 4.95M shares got traded over a period of 30 days. The 52-week low of Molycorp Inc (NYSE:MCP) shares is $4.51 while the 52-week high stands at $4.95. The company has a market capitalization of $1.16 billion.
About the company
Molycorp Inc (NYSE:MCP) is a rare-earth oxide producer that operates primarily in the Western hemisphere. It owns numerous developed rare-earth projects that are outside of China. Molycorp Inc (NYSE:MCP) also owns REO and rare-metal producers in Europe. It is the producer of the rare earth alloys in the U.S. the company has 3 operating segments: the first segment is the Molycorp Mountain Pass, the second one is Molycorp Tolleson and the third is Molycorp Sillamae.
On 1 April 2011, Molycorp Inc (NYSE:MCP) acquired 90 percent stake in AS Silmet that s in Sillamae, Estonia. On 15 April 2011, Molycorp Inc (NYSE:MCP) bought Santoku America. On 24 October 2011, Molycorp Inc (NYSE:MCP) bought the remaining 9.9 percent interest in Molycorp Sillamae. On 22 August 2011, it opened its office located in Tokyo, Japan.