- Molycorp (MCP) is soaring 49.2% premarket after it was chosen by Siemens (OTCPK:SIEGY) to supply rare earth materials over the next 10 years for incorporation into the latter's high-efficiency wind turbine generators.
- MCP will supply the rare earth materials to Shin-Etsu Chemical (OTCPK:SHECY), which will produce the rare earth magnets Siemens intends to utilize in its turbines.