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