March 3 Molycorp Inc reported a narrower
fourth-quarter loss on Monday, as the rare earth miner continued
to ramp up operations at its revamped Mountain Pass mine and
processing facilities in California.
The company's net loss was $194.3 million, or 95 cents a
share, compared with a loss of $359.6 million, or $2.91 a share,
in the fourth quarter of 2012, when it took a $258.3 million
impairment charge related to a 2012 takeover.
Adjusted to remove writedowns and other one-time items, the
loss was 28 cents a share, compared with a loss of 45 cents a
share in the year-ago period.
Analysts, on average, had expected a loss of 29 cents a
share, according to Thomson Reuters I/B/E/S.
Revenue slipped 8 percent to $123.8 million.