Molycorp, Inc. (NYSE:MCP)

Molycorp, Inc recently reported that it has reached an agreement with Hitachi Metals to supply the company with rare earth magnetic materials, including Didymium (a mix of neodymium and praseodymium) metal and alloy, as well as Lanthanum Oxide. The three-year deal, which extends and expands upon an existing supply relationship between the companies, significantly increases the amount of rare earth materials that Molycorp, Inc. will provide Hitachi Metals. The volume begins at a level comparable to the companies' current agreement and grows substantially when Molycorp reaches its Phase 1 production level in 2012 at its flagship rare earth production facility at Mountain Pass, California.

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