Mining firm Molycorp reported record sales of $138.1 million for the quarter ending Sept. 30.
The reported sales levels were 39 percent higher than the company’s reported earnings during the previous quarter.
Molycorp earned $8.5 million during the third quarter of 2010. The company did not revive mining operations at its Mountain Pass location until later in the year.
The company’s mine at Mountain Pass, which is near the Nevada state line in San Bernardino County, is the only place in the United States where rare earths metals can be mined. Rare earths metals are a class of elements that have a variety of applications in high technology, but are rarely discovered in concentrations where they can be effectively mined.
Molycorp’s net income attributable to stockholders reached $45.3 million during the third quarter, a 4 percent increase from the previous three-month period.
The company’s corporate offices are in Greenwood Village, Colo.
