Molycorp (MCP) Rips as China to Cut Number of Rare Earth Licenses 40%

September 13, 2012 10:55 AM EDT
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Molycorp (NYSE: MCP) is ripping higher following headlines that China is cutting the number of rare earth licenses by 40 percent. The number of licenses had been 113, according to Securities Journal.

Shares are up 4 percent.

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