MCP, Molycorp, Inc.

** MCP reported that it has been granted authorization from the U.S. Bureau of Land Management to commence exploratory drilling at an occurrence of heavy rare earths located near its flagship rare earth manufacturing facility at Mountain Pass, California.

Molycorp, Inc. (NYSE:MCP), a development stage company, focuses on the production and sale of rare earth oxides (REOs) from stockpiled feedstocks in the western hemisphere. Molycorp operates the Mountain Pass mine, a non-Chinese rare earth deposit. Molycorp was founded in 2008 and is based in Greenwood Village, Colorado.