Reuters: Market News: UPDATE 1-Molycorp reserve estimates at Mountain Pass rise

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UPDATE 1-Molycorp reserve estimates at Mountain Pass rise Apr 9th 2012, 11:29 April 9 | Mon Apr 9, 2012 7:29am EDT April 9 (Reuters) - U.S. miner Molycorp said its proven and probable reserves of rare earth minerals at its Mountain Pass, California facility have increased 36 percent. Molycorp's reserve estimates have risen to 18.4 million short tons of rare earth ore from a 2010 estimate of 13.6 million short tons. Shares of Molycorp closed at $33.19 on Thursday on the New York Stock Exchange.

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