Molycorp Files Plan of Reorganization

Molycorp, Inc. MCPIQ ("Molycorp" or the "Company") and its affiliated debtors today filed a joint plan of reorganization (the "Plan") with the U.S. Bankruptcy Court for the District of Delaware (the "Court") that proposes an emergence from Chapter 11 through either a stand-alone reorganization that would substantially de-lever its balance sheet or a sale of substantially all of its assets.  The Plan represents a major process milestone in Molycorp's bankruptcy process and, if approved, would position the Company to successfully emerge from Chapter 11.  The Plan is supported by the Company's largest pre-petition secured creditor and its post-petition lender, investment funds managed by Oaktree Capital Management, L.P. and its affiliates. The Plan envisions a dual-track process pursuant to which the Company's assets are being actively marketed for sale, either as a whole or through the separate sale of its business units.  The Company's four business units are Chemicals & Oxides, Magnetic Materials & Alloys, Rare Metals, and Resources, which consists primarily of its assets at Mountain Pass.  The Company will pursue a plan process to sell its assets if the bid or bids received exceed certain See full press release