Molycorp loss widens as rare earths prices slide

Thu Aug 8, 2013 4:24pm EDT

Aug 8 (Reuters) - U.S. rare earths company Molycorp Inc reported a wider quarterly loss on Thursday even as revenue rose, as sales prices dropped sharply.

Molycorp's loss attributable to common shareholders was $74.0 million, or 44 cents a share, compared with a loss of $70.5 million, or 71 cents, a year earlier, when the company had fewer shares outstanding.

Excluding costs associated with its expansion and other items, the loss widened to $60.9 million, or 36 cents a share, from $3.0 million, or 3 cents, a year earlier. Revenue rose to $136.9 million from $104.6 million.

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