Molycorp, Inc. : Molycorp Declares Preferred Dividend

            Molycorp, Inc. : Molycorp Declares Preferred Dividend

GREENWOOD VILLAGE, Colo. (Feb. 5, 2013) -- Molycorp, Inc. (NYSE: MCP) today
announced that its Board of Directors has elected to declare a cash dividend
on outstanding shares of its 5.50% Series A mandatory convertible preferred
stock in an amount equal to $1.375 per share. Molycorp will pay the dividend
on March 1, 2013 to the holders of record of shares of Series A mandatory
convertible preferred stock at the close of business on February 15, 2013. As
of February 5, 2013, there were a total of 2,070,000 shares of Series A
mandatory convertible preferred stock outstanding.

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For More Information:

Jim Sims, +1 (303) 843-8062
Vice President Corporate Communications
Jim.Sims@Molycorp.com

or

Brian Blackman, +1 (303) 843-8067
Senior Manager, Investor Relations
Brian.Blackman@Molycorp.com

ABOUT MOLYCORP, INC.

One of the world's leading manufacturers of custom engineered rare earth and
rare metal products, Molycorp is vertically integrated from its world-class
rare earth resource to its advanced downstream processing facilities. With 26
locations across 11 countries, the Company also produces rare earth magnetic
materials through its Molycorp Magnequench subsidiary, including
neodymium-iron-boron (NdFeB) magnet powders, used to manufacture bonded NdFeB
permanent rare earth magnets. Through its Intermetallics Japan joint venture
with Daido Steel and the Mitsubishi Corporation, Molycorp manufactures
next-generation, sintered NdFeB permanent rare earth magnets. Through its
Molycorp Advanced Water Technologies subsidiary, the Company markets and sells
its proprietary, cerium-based advanced water purification technology called
SorbX(TM) for use in municipal and industrial wastewater treatment,
recreational water, and pool and spa water treatment markets. For more
information please visit www.molycorp.com.

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Source: Molycorp, Inc. via Thomson Reuters ONE
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