Molycorp Shares Rise Following Positive Production News; Other Exploration Companies Follow Higher

Shares of Molycorp Inc. MCP are up roughly 30 percent on Tuesday following a favorable company update.

Molycorp Inc. announced that fourth quarter production at its Mountain Pass facility nearly doubled from the previous quarter.

Following the announced other rare-earth exploration companies are tending higher:

Rare Element Resources Ltd. REE +13%
Tasman Metals Ltd. TAS +13%
Avalon Rare Metals Inc. AVL +9%
Market Vectors Rare Earth ETF REMX +2.8%