Molycorp to Report Third Quarter 2012 Financial Results on November 8

For Release: 7:00 a.m. Eastern, October 23, 2012

Molycorp to Report Third Quarter 2012 Financial Results on November 8

Conference Call to Follow at 4:30 p.m. Eastern

GREENWOOD VILLAGE, Colo., [October 23, 2012] -- Molycorp, Inc. MCP today announced that it will release financial results for the third quarter ended September 30, 2012, after the market closes on Thursday, November 8, 2012. Release of Molycorp's financial results will be followed by an investor conference call at 4:30 p.m. Eastern. Mark Smith, President and Chief Executive Officer, and Michael Doolan, Executive Vice President and Chief Financial Officer, will host the call.

Investors and news media representatives interested in participating in the live call from the U.S. should dial +1 (800) 798-2884 and reference passcode number 27993646. Those calling from outside the U.S. should dial +1 (617) 614-6207 and reference the same passcode as above.

There will also be a simultaneous live audio webcast available on the Investor Relations section of the Company's website at http://www.molycorp.com/investors. The webcast will be archived on the website.

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For more information:

Jim Sims, +1 (303) 843-8062
Vice President, Corporate Communications
Jim.Sims@Molycorp.com

Brian Blackman, +1 303-843-8067
Senior Manager, Investor Relations
Brian.Blackman@Molycorp.com

About Molycorp, Inc.

Molycorp is a leading rare earths and rare metals company, and combines a world-class rare earth resource at Mountain Pass, California, with advanced, high-purity rare earth and rare metal materials processing capabilities. With 26 locations across 11 countries, Molycorp is vertically integrated across the global rare earth mine-to-magnetics supply chain. It produces rare earth magnetic materials as well as a variety of high-purity, custom engineered products from 13 different rare earths (lights and heavies) as well as five rare metals (gallium, indium, rhenium, tantalum and niobium), and the transition metals yttrium and zirconium. Through its Molycorp Magnequench subsidiary, the Company is a leading global producer of neodymium-iron-boron (NdFeB) magnet powders, used to manufacture bonded NdFeB permanent rare earth magnets. Through its joint venture with Daido Steel and Mitsubishi Corporation, Molycorp expects to begin manufacturing next-generation, sintered NdFeB permanent rare earth magnets in early 2013. The rare earths and rare metals materials that Molycorp produces are critical inputs in wide variety of existing and emerging applications, including the following: advanced transportation technologies, such as hybrid electric, plug-in hybrid electric, and all-electric vehicles; clean energy technologies, such as solar and wind power systems; energy efficiency technologies, such as high efficiency motors and appliances, compact fluorescent lights, and color displays; computing and communications applications, including fiber optics, lasers, and hard disk drives; defense and aerospace applications, such as satellites, guidance and control systems, and global positioning systems; and advanced water treatment technologies for use in municipal wastewater, industrial wastewater, pool & spa, and outdoor recreation applications. For more information please visit www.molycorp.com.

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Source: Molycorp, Inc. via Thomson Reuters ONE

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