The mine completed Q4 of 2014 with 1,328 metric tons (mt) of rare earth oxide (REO) equivalent production. That compares to 1,034 mt in Q4 of 2013 and 691 mt in Q3 of 2014. Full year 2014 production totaled 4,785 mt, compared to 3,473 mt in 2013. Per-unit cash production costs at Mountain Pass also declined sequentially in Q4 of 2014.
The company also expects higher production volumes in 2015,coinciding with relatively strong demand for the magnetic rare earth material neodymium/praseodymium, lanthanum, and light rare earth concentrate (LREC).
;We were pleased to see our production increase in the fourth quarter relative to the preceding quarter and year-on-year,’ said Geoff Bedford, president and CEO of Molycorp. ‘Optimization at Mountain Pass is ongoing, but our Q4 production demonstrates momentum in the right direction. Rare earth pricing softened in Q4 with market uncertainty surrounding release of final details of China’s ongoing reforms to rare earth mining, separation, and export regulatory policies. However, given the relatively strong internal and external demand we are seeing for many Mountain Pass products, continuing to boost production there is a top operational priority.’
