Molycorp (MCP +4.8%) shares rip higher on a report that China is reducing rare earth mining...

|By:, SA News Editor

Molycorp (MCP +4.8%) shares rip higher on a report that China is reducing rare earth mining licenses by 40%. The number of licenses had been 113, according to Securities Journal. The news is seen as positive for companies holding existing licenses as future competition may now be limited. Also on the move: REE +3.4%, AVL +2.6%.