NYSE Basic Materials Sector Top Losers

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Molycorp, Inc. (NYSE:MCP)

About Molycorp, Inc. Molycorp, Inc. is a rare earth oxide (REO) producer in the Western hemisphere and own most fully developed rare earth project outside of China. The Company has made investments, and focuses on investing in developing applications for individual rare earth elements (REEs). The Company estimates total proven and probable reserves of 2.21 billion pounds of REO, with an average ore grade of 8.24%, using a cut-off grade of 5%, at its Mountain Pass mine. At its Mountain Pass facility, the Company mines, crushes, mills and separates rare earth ore to produce individual REEs. It holds a 30-year mine plan permit and an associated environmental impact report, both of which were issued during the year ended December 31, 2004.


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