Molycorp To Report First Quarter 2011 Financial Results on May 10

Molycorp Inc. (NYSE: MCP) announced today it will release financial results for the first quarter ended March 31, 2011 after the market closes on Tuesday, May 10, followed by an investor conference call at 4:30 p.m. EDT. Mark Smith, Chief Executive Officer, and James Allen, Chief Financial Officer, will host the call.

Investors interested in participating in the live call from the U.S. should dial +1 (888) 428-9507 and reference confirmation number 6752539. Those calling from outside the U.S. should dial +1 (719) 457-2704 and use the same confirmation number. A telephone replay will be available approximately two hours after the call concludes through Tuesday, May 24, 2011 by dialing +1 (877) 870-5176 from the U.S., or +1 (858) 384-5517 from international locations, and entering passcode: 6752539.

There will also be a simultaneous live audio webcast available on the Investor Relations section of the Company's website at www.molycorp.com. The webcast will be archived on the website for 365 days.

About Molycorp

Colorado-based Molycorp, Inc. is the only REO producer in the Western Hemisphere and currently produces more than 3,000 metric tons of commercial rare earth materials per year. In addition to its rare earth mine and processing facility at Mountain Pass, California, Molycorp also owns a controlling interest in the Estonia-based Molycorp Silmet AS, which has a production capacity of 3,000 metric tons of rare earth products and 700 metric tons of rare metal products annually and is one of the largest rare metal and rare earth metal producers in Europe. Following the execution of Molycorp's "mine-to-magnets" strategy and the expected 2012 completion of Phase 1 of its modernization and expansion efforts at its Mountain Pass, California processing facility, Molycorp expects to produce at a rate of approximately 19,050 metric tons of REO equivalent per year from Mountain Pass. The Company expects to achieve an annual production capacity at Mountain Pass by the end of 2013 of approximately 40,000 metric tons of REO equivalent per year after the completion of Phase 2. Molycorp intends to provide to the market a range of rare earth products, including high-purity oxides, metals, alloys, and permanent magnets. The company currently sells products to customers in Europe, North and South America, Asia, Russia, and other previous Soviet Union countries.