Molycorp Donates Aid to Japanese Quake and Tsunami Victims

Molycorp, Inc. (NYSE:MCP) today made a $50,000 donation through the
American Red Cross to help victims of the earthquake and Pacific tsunami
in Japan.

'The people of Japan need our help, and the Molycorp family wants to
step up and provide this immediate assistance to those who are
suffering,' said Mark Smith, President and Chief Executive Officer of
Molycorp, Inc.

American Red Cross officials are coordinating with the Japanese Red
Cross to provide first aid, emotional support, and relief items to those
who are displaced in Japan. Smith said that those wishing to make
financial contributions to the American Red Cross in order to assist the
people of Japan can go
here to make an online contribution.

American Red Cross officials also added that people can text REDCROSS to
90999 to make a $10 donation to help those affected by the earthquake in
Japan and tsunami throughout the Pacific.

About Molycorp

Colorado-based Molycorp, Inc. is the only REO producer in the Western
Hemisphere and currently produces approximately 3,000 metric tons of
commercial rare earth materials per year. Following the execution of
Molycorp's 'mine-to-magnets' strategy and the expected 2012 completion
of Phase 1 of its modernization and expansion efforts at its Mountain
Pass, California processing facility, Molycorp expects to produce at a
rate of approximately 19,050 metric tons of REO equivalent per year. The
Company expects to achieve an annual production capacity by the end of
2013 of approximately 40,000 metric tons of REO equivalent per year
after the completion of Phase 2. Molycorp intends to provide to the
market a range of rare earth products, including high-purity oxides,
metals, alloys, and permanent magnets.

Molycorp Inc.

Jim Sims, +1 303-843-8067

Director of Public
Affairs

Jim.Sims@Molycorp.com