Molycorp To Report Second Quarter 2011 Financial Results on August 11

Molycorp Inc. (NYSE: MCP), the Western hemisphere's only producer of
rare earth oxides and the world's leading producer of rare earths
outside of China, announced today it will release financial results for
the second quarter ended June 30, 2011 after the market closes on
Thursday, August 11. Release of Molycorp's financial results will be
followed by an investor conference call at 4:30 p.m. EDT. Mark Smith,
President and Chief Executive Officer, and James Allen, Treasurer and
Chief Financial Officer, will host the call.

• Calling from the U.S.: Investors and news media representatives
  interested in participating in the live call from the U.S. should dial
  +1 (800) 946-0716 and reference confirmation number 4499878.
  
• Calling from outside the U.S.: Those calling from outside the
  U.S. should dial +1 (719) 457-2713 and use the same confirmation
  number as above.
  

A telephone replay will be available approximately two hours after the
call concludes through Tuesday, August 25, 2011 by dialing +1 (877)
870-5176 from the U.S., or +1 (858) 384-5517 from international
locations, and entering pass code: 4499878.

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 180 days.

About Molycorp

Colorado-based Molycorp, Inc. is the only rare earth oxide (REO)
producer in the Western Hemisphere and the largest REO producer outside
of China. The company currently is expected to produce a total of
between 4,541 to 5,813 metric tons of commercial rare earth materials in
2011 from its three facilities. In addition to its flagship rare earth
mine and processing facility at Mountain Pass, California, Molycorp also
owns a controlling interest in the Estonia-based Molycorp Silmet AS. One
of the largest rare earth and rare metal producers in Europe, Molycorp
Silmet AS has an annual production capacity of approximately 3,000
metric tons of rare earth products and 700 metric tons of rare metal
products. Molycorp also owns Molycorp Metals and Alloys in Tolleson,
Arizona. Formerly known as Santoku America, Inc., the facility is one of
the leading producers of high-purity rare earth alloys and metals
outside of China, and manufactures neodymium-iron-boron (NdFeB) alloy
and samarium cobalt (SmCo) alloy, as well as other specialty alloys and
products. 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 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.

Investor Relations:

ICR, LLC

Gary T. Dvorchak, CFA,
+1-310-954-1123

Senior Vice President

Gary.Dvorchak@icrinc.com

or

Molycorp
Inc.

Jim Sims, +1-303-843-8062

Vice President Corporate
Communications

Jim.Sims@Molycorp.com