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Molycorp skyrockets after announcing Siemens deal

Apr. 15, 2015 7:34 AM ETMolycorp, Inc. (MCP) StockSHECF, SHECY, SMAWF, SIEGY, MCPBy: Yoel Minkoff, SA News Editor18 Comments
  • 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.

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