FSC / Press Release
Molycorp Announces New Board Appointments
Greenwood Village, CO US, December 10, 2013 /FSC/ - Molycorp, Inc (MCP -
NYSE),("Molycorp" or the "Company") today announced several changes to its Board
of Directors, all effective December 19, 2013, including the election of Vice
Chair Constantine Karayannopoulos to Board Chair and the addition to the Board
of Molycorp President and CEO Geoff Bedford.
Mr. Karayannopoulos was elected by the Board to serve as its new Chair,
replacing Ross Bhappu, Senior Partner of Resource Capital Funds, who has decided
to resign from the Board.
"As an initial member of the Molycorp Board, Ross Bhappu has been a driving
force behind our growth from a Company with a single facility into a global,
vertically integrated enterprise," said Mr. Karayannopoulos. "We are all very
grateful for Ross' leadership and commitment to the success of this Company."
"With the rebuild and modernization of Mountain Pass and our global vertically
integrated platform now largely complete, an increased focus by the Company on
operational optimization and global market sales growth is strategically the
right move at this time," said Mr. Bhappu, who served as Molycorp Board Chair
since the Company's initial public offering (IPO) in 2010. "Constantine's nearly
two decades of experience in the global rare earth industry will serve the Board
and the Company well going forward."
# # #
For more information:
Jim Sims, +1 (303) 843-8062
Vice President, Corporate Communications
Brian Blackman, +1 (303) 843-8067
Vice President, Investor Relations
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 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. The Company also
markets and sells a line of rare earth-based water treatment products through
its Molycorp Advanced Water Technologies subsidiary. For more information please
Copyright (c) 2013 Molycorp, Inc., All rights reserved.
To view the press release as a PDF file, please click on the following link:
Maximum News Dissemination by FSCwire. http://www.fscwire.com
Provider ID: 00022641
-0- Dec/10/2013 21:34 GMT
Press spacebar to pause and continue. Press esc to stop.