Colorado-based Molycorp, Inc. is the only rare earth oxide, or REO, producer in the Western hemisphere and owns the world’s largest, most fully developed rare earth project outside of China. Following the execution of the Company's “mine-to-magnets” strategy and completion of its modernization and expansion efforts at its Mountain Pass., Calif. processing facility, it expects to be one of the world’s most integrated producers of rare earth products, including oxides, metals, alloys and magnets. Rare earths are critical inputs in existing and emerging applications including: clean energy technologies, such as hybrid and electric vehicles and wind power turbines; multiple high-tech uses, including fiber optics, lasers and hard disk drives; numerous defense applications, such as guidance and control systems and global positioning systems; and advanced water treatment technology for use in industrial, military and outdoor recreation applications. Global demand for rare earth elements, or REEs, is projected to steadily increase due to continuing growth in existing applications, increased innovation and development of new end uses and declining exports from China, which currently supplies 97% of the world’s demand. For more information, please contact Jim Sims at Molycorp, Inc., +1 303-843-8067 or visit www.Molycorp.com.