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Molycorp, Inc. : Molycorp Declares Preferred Dividend

            Molycorp, Inc. : Molycorp Declares Preferred Dividend

GREENWOOD VILLAGE, Colo. (May 3, 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 June 1, 2013 to the holders of record of shares of Series A mandatory
convertible preferred stock at the close of business on May 15, 2013. As of
May 3, 2013, there were a total of 2,070,000 shares of Series A mandatory
convertible preferred stock outstanding.

For more information:

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

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

About Molycorp, Inc.
Molycorp is the only advanced material manufacturer in the world that both
controls a world-class rare earth resource and can produce high-purity, custom
engineered rare earth products to meet increasingly demanding customer
specifications. A globally integrated manufacturer, the Company produces a
wide variety of specialized products from 13 different rare earths (lights and
heavies), five rare metals (gallium, indium, rhenium, tantalum and niobium),
and the transition metals yttrium and zirconium. With 27 locations across 11
countries, Molycorp 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 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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the
information contained therein.

Source: Molycorp, Inc. via Thomson Reuters ONE
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