Shares of Molycorp Inc. (NYSE: MCP) rallied more than 2% on Friday on renewed speculation that the company could be a takeover target. Molycorp, Inc., a development stage company, engages in the production and sale of rare earth oxides in the western hemisphere. Its rare earth products include oxides, metals, alloys, and magnets for various inputs in existing and emerging applications comprising clean energy technologies, multiple high-tech uses, defense applications, and water treatment technology. The company primarily owns and operates the Molycorp Mountain Pass facility, an open-pit mine containing rare earth deposits outside of China located in San Bernardino County, California. It also intends to produce and sell rare earth oxides and rare metals in Europe; and rare earth alloys in the United States. Stay tuned for more.
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