Molycorp, owner of the largest rare-earth deposit outside China, rose after it lifted its full-year production forecast and posted second-quarter profit that beat estimates. Net income was 52 cents a share, the Colorado company said. Revenue climbed to $99.6 million from $1.9 million. Production of rare-earth oxide equivalent products in 2011 will be 4,941 metric tons to 5,881 tons, up from an earlier high of 5,813 tons.
© Copyright 2011 Globe Newspaper Company.
