Molycorp Shares Jump 47% Following Positive Production News; Other Exploration Companies Follow Higher

Shares of Molycorp Inc (NYSE: MCP) are up 47 percent on Tuesday following a favorable company update.

Molycorp announced that fourth quarter production at its Mountain Pass facility nearly doubled from the previous quarter.

Following the announced other rare-earth exploration companies are tending higher:

Rare Element Resources Ltd (NYSE: REE) +23%
Tasman Metals Ltd (NYSE: TAS) +16%
Avalon Rare Metals Inc (NYSE: AVL) +21%
Market Vectors Rare Earth ETF (NYSE: REMX) +3.3%