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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2012
Fair Value Disclosures [Abstract]  
Fair Value Inputs, Liabilities, Quantitative Information
The technique Molycorp used to fair value this derivative is the income approach based on a discounted cash flow model. In addition to the risk free interest rate, which is a Level 1 input within the fair value hierarchy, the following significant unobservable Level 3 inputs were used to fair value the put option at December 31, 2012:
 
 
 
Effect of 1% increase (a)
 
Effect of 1% decrease (a)
 
Input
 
(In millions)
Equity-risk premium
6.5
%
 
$
(0.8
)
 
$
1.0

Risk premium
12.9
%
 
$
(0.4
)
 
$
0.4

Size premium
3.9
%
 
$
(0.4
)
 
$
0.5

Growth rate
1.0
%
 
$
0.3

 
$
(0.3
)
(a) Assuming all other inputs are unchanged.