Good news for Molycorp Inc, which reported a narrower fourth-quarter loss on Monday, as the rare earth miner continued to ramp up operations at its revamped Mountain Pass mine and processing facilities in California,” reports Reuters.
“The Denver-area company said with construction complete, it is now focused on optimizing operations at the newly revamped project as it works to increase production to nearly 20,000 tonnes a year.”
“That optimization work caused production interruptions in the fourth quarter, with output coming in below company expectations at around 1,000 tonnes of rare earth oxides.”
“Chief Executive Officer Geoff Bedford, who took over the top job in December, said he expects production to reach full capacity in the second half of 2014.”
“On the other side of the equation, Bedford said demand for Molycorp’s rare earth products continues to improve, especially in the magnetic and catalyst sectors.”
In metal price news for rare earths…
The week’s biggest mover on the weekly Rare Earths MMI® was terbium oxide, which saw a 2.9 percent increase. Dysprosium oxide gained a slight 2.8 percent this past week. Neodymium rose by a slight 2.5 percent.
Praseodymium oxide rose 1.8 percent over the past week. The price of yttria increased by a slight 1.5 percent over the past week. Yttria saw its price rise 1.5 percent over the past week. Following a steady week, prices for cerium oxide closed flat.
Prices for lanthanum oxide remained constant, closing the week. Neodymium oxide prices held steady from the previous week. Praseodymium neodymium oxide traded sideways last week. Rare earth carbonate remained essentially flat from the previous week.
The price of samarium oxide did not change since the previous week. The week finished with no movement for terbium metal. Yttrium remained essentially flat from the previous week.
The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.