GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Molycorp, Inc., whose wholly owned subsidiary, Molycorp Minerals, LLC, is a U.S. rare earth producer and technology company, today announced that it plans to file a registration statement with the U.S. Securities and Exchange Commission for a proposed underwritten initial public offering of its common stock. The filing of such registration statement and the offering are subject to applicable economic and capital market conditions. Molycorp expects to use the proceeds of the offering for the modernization and expansion of its Mountain Pass, California mining and production facility as well as for general corporate purposes, including, without limitation, to fund working capital requirements and to develop new products, processes and technologies, both through acquisitions and capital programs. Molycorp expects to file the registration statement in the second quarter of 2010.

This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. This announcement is being issued pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933.