Molycorp has reported higher production volumes in the Q1 2015 at its Mountain Pass, California rare earth facility of 1,479 metric tons (mt) of rare earth oxide equivalent. This was an 11% increase over the fourth quarter 2014 production of 1,328 mt.

Net revenues for the quarter were US$106 million, an 8% decrease from the fourth quarter of 2014. The decrease in revenues was largely driven by a shifting product mix and softened pricing for rare earths, offset in part by increased volume, the company said.

During the first quarter of 2015, the company sold 3,436 mt of product at an ASP of US$30.97 per kilogram, generating a gross loss of US$25 million. This compares to sales volumes of 3,149 mt at an ASP of US$36.91 per kilogram and a gross loss of US$45 million during the fourth quarter of 2014.

This story is reprinted from material from Molycorp, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.