Molycorp expects lower-than-expected revenue for 2013

Thu Jan 10, 2013 7:22am EST
 
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Jan 10 (Reuters) - Molycorp Inc said it expected lower-than-expected revenue and cash flow for 2013 due to lower rare-earth prices, sending its shares down 13 percent before the bell.

The company said it was evaluating its capital needs for 2013 as it ramps up its rare-earth manufacturing complex in Mountain Pass, California.

Molycorp's shares, which closed at $10.79 on Wednesday, fell to $9.44 in premarket trading on Thursday. (Reporting by Sandhya Vijayan in Bangalore; Editing by Maju Samuel)