Molycorp reports increased sales volume in 2013

News
March 4, 2014

March 4, 2014

Molycorp, Inc., a US based producer of rare earths, has reported that for its full year 2013 the volume of sales increased 42% to 13,118 mt, when compared to 2012 figures. Net revenue for the year was stated as $554.4 million, a 5% increase compared to the previous year. The increase in revenues was largely driven by increased volume sales within its Magnetic Materials and Alloys segment, and its Rare Metals segment, the company added. Despite the increase in sales Molycorp generated a gross loss of $67.2 million for the full year 2013. 

Molycorp announced that it had achieved a significant milestone in 2013 with the completion of commissioning and the operational start-up of the Chlor-Alkali plant at its Mountain Pass, California, rare earth facility. That plant utilises recycled wastewater from Mountain Pass operations to produce chemical reagents used in rare earth production.

“Putting our Chlor-Alkali plant into operation is a major milestone. Producing our own chemical reagents and reducing our water discharge will lower our costs, and this unit further reduces the environmental footprint of rare earth production at Mountain Pass,” stated Molycorp President and CEO Geoff Bedford. “It will play a key role in helping us achieve operating break-even cash flow, before interest, this year.”

Molycorp lists 26 locations across 11 countries and has more than 2,700 employees. Through a joint venture with Daido Steel and Mitsubishi Corporation, called Intermetallics Japan, the company manufactures sintered NdFeB permanent rare earth magnets.

www.molycorp.com   

News
March 4, 2014

In the latest issue of PM Review…

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • Phoenix Sintered Metals: A story of transformation, growth and community from America’s PM heartland
  • World PM2024 Yokohama: The stage is set for the PM industry to find a path to sustainable growth
  • The state of Europe’s hard magnets industry and the challenge of optimising the mass production of Nd2Fe14B permanent magnets

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

Join our community

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

 

Browse the archive

 

Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
View online
Share via
Copy link