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Molycorp delays earnings report

Keywords: Tags  Molycorp, rare earths, Mark Smith, earnings, charge


NEW YORK — Molycorp Inc. has postponed the release of its 2012 earnings report as it determines the amount of a "substantial" non-cash goodwill impairment charge.

The Greenwood Village, Colo.-based rare earths producer was originally set to file its annual financial report no later than March 1, but it now expects to file the results by March 15, it said.

"The company noted that the filing delay is necessary for it to determine the amount of a non-cash goodwill impairment charge, which it estimates will be substantial, to be recorded for the fourth quarter and reflected on its full-year 2012 financial statements," Molycorp said.

Molycorp’s former president and chief executive officer Mark A. Smith stepped down in December, although the company did not at that time give a reason for his departure (amm.com, Dec. 12).

The company could not be reached for further comment.


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