Molycorp Declares Preferred Dividend
Molycorp, Inc. (NYSE: MCP), today announced that its Board of Directors
has elected to declare a cash dividend on outstanding shares of its
5.50% Series A mandatory convertible preferred stock in an amount equal
to $1.375 per share. Molycorp will pay the dividend on September 1, 2012
to the holders of record of shares of Series A mandatory convertible
preferred stock at the close of business on August 15, 2012. As of
August 1, 2012, there were a total of 2,070,000 shares of Series A
mandatory convertible preferred stock outstanding.
About Molycorp, Inc.
Molycorp is a leading rare earths and rare metals company, and combines
a world-class rare earth resource at Mountain Pass, California, with
world-class ultra-high-purity rare earth and rare metal materials
processing capabilities. With 26 locations across 11 countries, Molycorp
is vertically integrated across the global rare earth mine-to-magnetics
supply chain. It produces rare earth magnetic materials as well as a
variety of high-purity, custom engineered products from 13 different
rare earths (lights and heavies) as well as five rare metals (gallium,
indium, rhenium, tantalum and niobium), and the transition metals
yttrium and zirconium. Through its Molycorp Magnequench subsidiary, the
Company is a leading global producer of neodymium-iron-boron (NdFeB)
magnet powders, used to manufacture bonded NdFeB permanent rare earth
magnets. Through its joint venture with Daido Steel and Mitsubishi
Corporation, Molycorp expects to begin manufacturing next-generation,
sintered NdFeB permanent rare earth magnets in early 2013. The rare
earths and rare metals materials that Molycorp produces are critical
inputs in wide variety of existing and emerging applications, including
the following: advanced transportation technologies, such as hybrid
electric, plug-in hybrid electric, and all-electric vehicles; clean
energy technologies, such as solar and wind power systems; energy
efficiency technologies, such as high efficiency motors and appliances,
compact fluorescent lights, and color displays; computing and
communications applications, including fiber optics, lasers, and hard
disk drives; defense and aerospace applications, such as satellites,
guidance and control systems, and global positioning systems; and
advanced water treatment technologies for use in municipal wastewater,
industrial wastewater, pool & spa, and outdoor recreation applications.
For more information please visit www.molycorp.com.
Molycorp, Inc.
Jim Sims, +1 303-843-8062
Vice
President Corporate Communications
Jim.Sims@Molycorp.com
Brian
Blackman, +1 303-843-8067
Senior Manager, Investor Relations
Brian.Blackman@Molycorp.com
