$MCP,...Molycorp says expanded leach system is placed into service at Mountain Pass
Molycorp (NYSE:MCP) +2.4% premarket on news that its expanded leach system has been placed into service at its Mountain Pass, Calif., facility.
MCP says the system expansion addresses one of the major production bottlenecks at Mountain Pass and is expected to boost rare earth production and lower operating costs once it is fully operational and sufficient supplies of hydrochloric acid are available.
While onsite production and market availability of HCl are expected to improve in Q4 and beyond, Q3 2014 rare earth production at Mountain Pass is not expected to exceed Q1 2014 levels.
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