Molycorp, Inc. disclosed that it estimates pricing initial public offering of nearly 28.13 million shares of common stock to be between $15.00 and $17.00 per share. Greenwood Village, Colorado-based Molycorp is a rare earth oxide producer in the Western hemisphere and owns most fully developed rare earth project outside of China.
Molycorp said it has applied to list its common stock on The New York Stock Exchange under the symbol "MCP"
The company noted that the underwriters may also purchase up to an additional 4.22 million shares within to cover over-allotments.
Molycorp anticipates to use the proceeds for the modernization and expansion of its Mountain Pass, California mining and production facility as well as for general corporate purposes.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.