: Case No (CSS) Debtors. : Chapter 11

Transcription

1 UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE In re : : Chapter 11 MOLYCORP INC., et al., 1 : : Case No (CSS) Debtors. : : (Jointly Administered) FIRST MONTHLY FEE APPLICATION OF KPMG LLP (CANADA) FOR COMPENSATION FOR SERVICES RENDERED AND REIMBURSEMENT OF EXPENSES AS AUDITOR, TAX CONSULTANT AND ADVISOR TO THE DEBTORS AND DEBTORS IN POSSESSION FOR THE PERIOD FROM JUNE 25, 2015 THROUGH JULY 31, 2015 Name of Applicant: Authorized to Provide Professional Services to: Date of Retention: Period for which compensation and reimbursement is sought: Amount of Compensation sought as actual, reasonable and necessary: KPMG LLP (Canada) Debtors and Debtors in Possession August 13, 2015 Nunc Pro Tunc to June 25, 2015 June 25, 2015 through July 31, 2015 $308, (requested 80% amount is $246,862.96) 2 Amount of Expense Reimbursement sought as actual, reasonable and necessary: $32, This is a: X Monthly Interim Final Application 1 The Debtors are the following 21 entities (the last four digits of their respective taxpayer identification numbers, if any, follow in parentheses): Molycorp, Inc. (1797); Industrial Minerals, LLC; Magnequench, Inc. (1833); Magnequench International, Inc. (7801); Magnequench Limited; Molycorp Advanced Water Technologies, LLC (1628); MCP Callco ULC; MCP Canada Holdings ULC; MCP Canada Limited Partnership; MCP Exchangeco Inc.; Molycorp Chemicals & Oxides, Inc. (8647); Molycorp Luxembourg Holdings S.à r.l.; Molycorp Metals & Alloys, Inc. (9242); Molycorp Minerals Canada ULC; Molycorp Minerals, LLC (4170); Molycorp Rare Metals Holdings, Inc. (4615); Molycorp Rare Metals (Utah), Inc. (7445); Neo International Corp.; PP IV Mountain Pass, Inc. (1205); PP IV Mountain Pass II, Inc. (5361); RCF IV Speedwagon Inc. (0845). Molycorp's United States headquarters is located at 5619 DTC Parkway, Suite 1000, Greenwood Village, Colorado KPMG incurred $308, in fees during the Compensation Period (as defined below). 80% of this total fee amount is $246, However, the amount requested includes $3,548 (80% of $4,435 for fees for the Barbados Audit (as defined below)) and KPMG (Canada) does not intend to seek payment from the Debtors for such amount as it will apply such amount against its prepetition retainer; and (2) as per the Retention Order (as defined below), KPMG (Canada) also is providing a one-time credit of $33, (CAD$43,662.01, using a conversion rate of $ as of August 13, 2015, the date the Retention Order was entered). Accordingly, the total payment KPMG (Canada) will seek from the Debtors is $209,

2 The time expended for fee application preparation in this Application is 29.9 hours and the corresponding compensation is $5, The Applicant intends to seek additional compensation at a later date for hours and fees incurred outside the Compensation Period. Prior Applications: None -2-

3 PROFESSIONALS* -3- Discounted Hourly Billing Rate Total Hours Billed Name of Professional Person Position Total Compensation Agha Ali Senior Manager - IT Advisory $ $ 21, Agnes Mak Partner - Tax $ $ - Alexander Buzas Associate -Tax $ $ - Ashby Corum Partner - Tax $ $ Brad Owen Partner - Audit $ $ Brad Owen Partner - Audit $ $ - Bryant Ramdoo Senior Manager - Audit $ $ 30, Bryant Ramdoo Senior Manager - Audit $ $ - Chris Keuleman Senior Accountant/Consultant $ $ 3, Chris Keuleman Senior Accountant/Consultant $ $ - Craig Myers Senior Associate -Tax $ $ - Daniyal Fahim Senior Accountant/Consultant - Audit $ 200 (2) 14.0 $ 2, David Evans Partner - Strategy & Operations $ $ 4, Heather O'Hagan Partner - International Tax $ $ Israel Tarshish Senior Manager -Tax $ $ 1, Ivan Y Li Manager - Tax $ $ 8, Ivan Y Li Manager - Tax $ $ - Jamie Tong Senior Accountant/Consultant - Audit $ $ 7, Jamie Tong Senior Accountant/Consultant - Audit $ $ - Jordan Wall Specialist / Senior Consultant -Tax $ $ - Karly Kopczynski Associate - Audit $ $ - Ken Santiano Senior Manager -Tax $ $ 1, Ken Santiano Senior Manager -Tax $ $ - Kevin Hutchinson Senior Manager $ $ Kyle Leung Staff Accountant/Consultant - Audit $ $ Kyle Leung Staff Accountant/Consultant - Audit $ $ - Kyle Leung Staff Accountant/Consultant - Audit $ 150 (2) 10.9 $ 1, Lisa Hackard Partner - Audit $ $ 1, Lisa Hackard Partner - Audit $ $ - Michael Tan Staff Accountant/Consultant - Audit $ $ 5, Michael Tan Staff Accountant/Consultant - Audit $ $ - Monica Plangman Associate Director $ $ 2, Nathan Heinrichs Senior Manager - Tax $ $ - Ray J. Romanin Partner - Tax $ 710 (3) 1.3 $ Ray J. Romanin Partner - Tax $ 695 (4) 3.6 $ 2, Renee W. Lammers Senior Manager - Tax $ 560 (3) 5.2 $ 2, Renee W. Lammers Senior Manager - Tax $ 550 (4) 9.2 $ 5, Renee W. Lammers Senior Manager - Tax $ $ - Ronald C. Maiorano Partner - Tax $ $ 2, Ronald C. Maiorano Partner - Tax $ $ - Sangwoo Lee Staff Accountant/Consultant - Audit $ $ 4, Sangwoo Lee Staff Accountant/Consultant - Audit $ $ - Sara Landon Manager - Audit $ $ -

4 Scott Jandt Partner -Tax $ $ 7, Stephanie D Holland Specialist / Senior Consultant - Tax $ $ 2, Wendy Shaffer Senior Associate - Bankruptcy $ $ 4, Will J. Stephen Partner - Audit $ $ 3, Will J. Stephen Partner - Audit $ $ - Willy Kruh Partner - Consumer Markets $ $ 1, Wilson Machado da Silva Jr. Senior Associate - Audit $ $ - Yinka Kukoyi Managing Director -Tax $ $ 1, Total Hours and Discounted Fees $ 135, Interim Review Services (Fixed Fees) (5) $ 158, Transfer Pricing Services (Fixed Fees) (6) $ 15, Total Discounted and Fixed Fees $ 308, Less Holdback Adjustment (20%) $ (61,715.74) Total fees less holdback adjustment $ 246, Barbados credit related to pre-petition retainer $ (3,548.00) Subtotal of fees $ 243, Less Credit as per Retention Order (7) $ (33,425.88) Net requested fees $ 209, Out of Pocket Expenses $ 32, Actual Payment Sought $ 242, Blended Hourly Rate (Exclusive of Fixed Fees) $339.4 *Capitalized terms not otherwise defined in this chart have the meanings given to them in the annexed fee application (the Retention Application ). As set forth in the Retention Application, KPMG (Canada) does not charge hourly rates for Fixed Fee services. (2) Prior to the Petition Date, KPMG (Canada) received $30,000 in estimated fees for the Barbados Audit. KPMG (Canada) intends to apply 80% of the total fees and 100% of expenses incurred during the Compensation Period for such services against the prepetition retainer balance. (3) Discounted rate for Tax Compliance/Advisory - Restructuring Tax Consulting Services. (4) Discounted rate for Tax Consultancy /Advisory Services - Canadian Tax Compliance/Advisory Services. (5) For the 2015 Interim Review Services, the Debtors and KPMG (Canada) agreed to a base fee of $158,000 for the interim review period ended June 30, (6) For in-scope Transfer Pricing Services, the Debtors and KPMG (Canada) agreed to a base fee of CAD$90,000, with USD$30,800 remaining to be paid in monthly installments. $15,292 (CAD$20,000) is requested in this first monthly fee application using an exchange rate of CAD$1 to USD$ as of noon August 15, (7) In accordance with the Retention Order, KPMG (Canada) is providing a credit in this first monthly fee application of CAD$43, (USD$33,425.88); the total credit in US dollars of $33, was calculated using a conversion rate of CAD$1 to USD$ on August 13, 2015 (the date the Retention Order was entered by the Court). -4-

5 COMPENSATION BY PROJECT CATEGORY Project Category Total Hours Billed Total Fees Requested Interim Review Services $ 158, Out of Scope Interim Review Services $ 41, Magnequench Limited and Neo International Corp. Audit Services 24.9 $ 4, Tax Consultancy /Advisory Services - Canadian Tax Compliance/Advisory 41.4 $ 19, Tax Compliance/Advisory - Restructuring Tax Consulting Services 20.6 $ 13, IT Advisory Services 67.1 $ 26, Transfer Pricing Services 51.1 $ 15, Retention Services 55.6 $ 24, Fee Statement and Fee Application Preparation Services 29.9 $ 5, $ 308, (2) Services billed on Fixed Fee basis per the Retention Order (2) Prior to the Petition Date, KPMG (Canada) received $30,000 in estimated fees for the Barbados Audit (as defined below). KPMG (Canada) intends to apply 80% of the total fees and 100% of expenses incurred during the Compensation Period for such services against the remaining prepetition retainer. EXPENSE SUMMARY Service Description Amount Airfare $ - Lodging $ - Travel Meals $ - Ground Transportation $ - Miscellaneous $ 32, Total $ 32, *Expenses include a request for reimbursement of outside counsel fees. Itemized detail of such request is annexed to the Application as Exhibit D2. -1-

6 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re MOLYCORP INC., et al., 1 Debtors. : : : : : : : Chapter 11 Case No (CSS) (Jointly Administered) FIRST MONTHLY FEE APPLICATION OF KPMG LLP (CANADA) FOR COMPENSATION FOR SERVICES RENDERED AND REIMBURSEMENT OF EXPENSES AS AUDITOR, TAX CONSULTANT AND ADVISOR TO THE DEBTORS AND DEBTORS IN POSSESSION FOR THE PERIOD FROM JUNE 25, 2015 THROUGH JULY 31, 2015 Pursuant to sections 328, 330 and 331 of title 11 of the United States Code (the Bankruptcy Code ), Rule 2016 of the Federal Rules of Bankruptcy Procedure (the Bankruptcy Rules ), the Local Rules of Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware (the Local Rules ), the Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses of Professionals (the Interim Compensation Order ) [Docket No. 229], the Order Appointing Fee Examiner and Establishing Procedures for Consideration of Requested Fee Compensation and Reimbursement of Expenses (the Fee Examiner Order ) [Docket No. 508], KPMG LLP (Canada) ( KPMG (Canada) ), auditor, tax consultant and advisor to the debtors and debtors in possession in the abovecaptioned cases (the Debtors ), submits its first monthly fee application (the Application ) for 1 The Debtors are the following 21 entities (the last four digits of their respective taxpayer identification numbers, if any, follow in parentheses): Molycorp, Inc. (1797); Industrial Minerals, LLC; Magnequench, Inc. (1833); Magnequench International, Inc. (7801); Magnequench Limited; Molycorp Advanced Water Technologies, LLC (1628); MCP Callco ULC; MCP Canada Holdings ULC; MCP Canada Limited Partnership; MCP Exchangeco Inc.; Molycorp Chemicals & Oxides, Inc. (8647); Molycorp Luxembourg Holdings S.à r.l.; Molycorp Metals & Alloys, Inc. (9242); Molycorp Minerals Canada ULC; Molycorp Minerals, LLC (4170); Molycorp Rare Metals Holdings, Inc. (4615); Molycorp Rare Metals (Utah), Inc. (7445); Neo International Corp.; PP IV Mountain Pass, Inc. (1205); PP IV Mountain Pass II, Inc. (5361); RCF IV Speedwagon Inc. (0845). Molycorp's United States headquarters is located at 5619 DTC Parkway, Suite 1000, Greenwood Village, Colorado

7 interim allowance of compensation for professional services rendered and reimbursement of expenses incurred for the interim period (the Compensation Period ). In support of the Application, KPMG (Canada) respectfully represents: Background 1. On June 25, 2015 (the Petition Date ), each of the Debtors commenced a case under chapter 11 of the Bankruptcy Code. The Debtors are continuing in possession of their properties and are managing their businesses, as debtors in possession, pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. 2. On July 29, 2015, the Debtors filed the Application of Debtors (I) to Retain and Employ KPMG (Canada) as Auditor, Tax Consultant and Advisor Nunc Pro Tunc as of the Petition Date and (II) Seeking Waiver of Certain Informational Requirements of Local Rule (the Retention Application ) [Docket No. 293]. By Order, dated August 13, 2015, the Retention Application was approved (the Retention Order ) [Docket No. 370]. The Retention Order authorizes the Debtors to compensate KPMG (Canada) in accordance with sections 328, 330 and 331 of the Bankruptcy Code, the Bankruptcy Rules, the Local Rules, and such other procedures as fixed by order of the Court. 3. During the Compensation Period, KPMG (Canada) performed the services for which it is seeking compensation as a professional retained by the Debtors and not on behalf of any committee, creditor or other person. 4. By this Application, KPMG (Canada) requests: (a) interim allowance of compensation for professional services rendered by KPMG (Canada) for the Debtors during the -2-

8 Compensation Period in the amount of $308,578.70; 2 and (b) reimbursement of actual and necessary expenses incurred by KPMG (Canada) in connection with the rendition of professional services for the Debtors during the Compensation Period in the amount of $32, Compensation Previously Paid 5. As set forth in the Retention Application, prepetition, KPMG (Canada) received from the Debtors three separate retainers in the aggregate amount of $311,162.24, 3 to be applied to unbilled prepetition fees and expenses. After applying all or a portion of such retainers to applicable prepetition fees and expenses, the retainer balance is $279,957. Summary of Services Rendered During the Compensation Period 6. This Application is KPMG (Canada) s first monthly fee application for compensation and expense reimbursement filed in these chapter 11 cases. Annexed hereto as Exhibit A is a chart setting forth the professionals who rendered services in connection with this Application during the Compensation Period. A summary of the hours and fees incurred by professional (for non-fixed Fees) and category is annexed hereto as Exhibit A and Exhibit B, respectively. The services are described in detail in the time records annexed hereto as Exhibits 2 KPMG incurred $308, in fees during the Compensation Period. 80% of this total fee amount is $246, However, the amount requested includes $3,548 (80% of $4,435 for fees for the Barbados Audit (as defined below)) and KPMG (Canada) does not intend to seek payment from the Debtors for such amount as it will apply such amount against its prepetition retainer; and (2) as per the Retention Order, KPMG (Canada) also is providing a one-time credit of $33, (CAD$43,662.01, using a conversion rate of CAD$1 to USD$ as of August 13, 2015, the date the Retention Order was entered). Accordingly, the total payment KPMG (Canada) will seek from the Debtors is $209, As set forth in the Retention Application and the Declaration of William Kruh attached as Exhibit A to the Retention Application (the Kruh Declaration ), one of the prepetition retainers received was paid in Canadian dollars on June 15, For purposes of this Application, an exchange rate of CAD$1 to USD$ as of June 15, 2015 was used. In addition, the aggregate amount set forth in paragraph 5 is inclusive of a $30,000 retainer paid to KPMG (Canada) prepetition in connection with audit services to Magnequench Limited and Neo International Corp. (the Barbados Audit ). As set forth in the Retention Application and Kruh Declaration, KPMG (Canada) intends to apply amounts requested herein (80% of fees and 100% of expenses) against the balance of such retainer. -3-

9 C1 C9. KPMG maintains contemporaneous records of the time expended for the professional services and expenses related hereto performed in connection with these chapter 11 cases and such records are maintained in the ordinary course of business. 7. With respect to the Fixed Fees, pursuant to paragraph 4 of the Retention Order, KPMG (Canada) was granted a limited waiver of the information requirements of Local Rule (d)(ii) (all motions shall include complete and detailed activity descriptions), Local Rule (d)(iv) (activities shall be billed in tenths of an hour), Local Rule (d)(vii) (activity descriptions shall not be lumped) and Local Rule (d)(ix) (activity descriptions shall individually identify all meetings and hearings, each participant, the subject(s) of the meeting or hearing and the participant s role), and KPMG (Canada) was permitted to maintain time records in summary format and bill in half-hour (.5) increments. In addition, other than with respect to KPMG (Canada) s outside counsel, KPMG (Canada) was granted a waiver of Local Rule 2016-(f) (reimbursement of payments made to other professional). 8. In addition to Exhibits A and B, a summary of the professional services that KPMG (Canada) rendered to the Debtors during the Compensation Period is set forth below. Interim Review Services performing a review of the unaudited condensed consolidated interim financial statements for period ended June 30, 2015(collectively, the Interim Review Services ) Out of Scope Interim Review Services out-of-scope services include accounting and tax issues relating to ASC 852 Reorganizations and impairment considerations relating to the Mountain Pass operations requiring, among other things, research, consultation and related services Magnequench Limited and Neo International Corp. Audit Services performing an audit of the statutory financial statements of Debtors Magnequench Limited and Neo International Corp. for the period ending December 31, 2014 for local regulatory purposes -4-

10 analyzing accounting issues and providing advice to the Debtors management regarding the proper accounting treatment of events providing a report summarizing KPMG (Canada) findings regarding the consolidated financial statement Tax Consultancy/Advisory Services Canadian Tax Compliance /Advisory reviewing and preparing federal and provincial income tax returns and supporting schedules for certain Debtors and their subsidiaries for the 2014 taxation year Tax Compliance/Advisory - Restructuring Tax Consulting Services preliminary advice regarding tax implications and tax accounting treatment of various aspects of the bankruptcy, including IRC section 382 and its impact on tax attributes, and potential restructuring under consideration Transfer Pricing and Tax Assistance Services transfer pricing and tax assistance for the fiscal year ended December 31, 2014 including, but not limited to, leveraging from prior assistance regarding fiscal years ended December 31, 2013 and prior years, to assist to prepare updated fiscal 2014 transfer pricing documentation reports for specific Debtors as listed in the engagement letter dated May 29, 2015 IT Advisory Services workshop analysis of SOD needs and develop needs assessment for organization (provided leading practice scenarios to facilitate discussion) evaluating how to leverage SAP application and security frameworks to meet the SOD needs reviewing Molycorp s design concept for leveraging SAP Security and GRC to meet needs and provide observation and advisory guidance Retention Services services included providing extensive assistance in connection with the preparation of KPMG (Canada) s declaration in support of the Retention Application and related retention documents; numerous discussions and correspondence with the Debtors and counsel regarding retention documents and process. Fee Statement and Fee Application Preparation the billing procedures required by the US Trustee Guidelines differ from KPMG (Canada) s normal billing procedures and as such, the Local Rules and the Interim Compensation Order entered in these cases have required effort to inform the -5-

11 timekeepers of their responsibilities, compile the detailed time entries, prepare detailed and summary schedules of fees incurred, and draft the narratives and schedules included in the monthly fee application. Compensation 9. In accordance with the Retention Application as approved by the Retention Order, KPMG (Canada) charges a base fee for, among other things: (a) 2015 Interim Review Services, and (b) transfer pricing services (collectively, the Fixed Fees ). KPMG is seeking compensation for such Fixed Fees during the Compensation Period in the amount of (a) $158,000 for 2015 Interim Review Services, 4 and (b) $20,000CAD ($15,292USD) All non-fixed Fees are billed by KPMG (Canada) to the Debtors during the Compensation Period for time expended by professionals based on hourly rates ranging from $150 to $710 per hour. The rates reflected in this Application for non-fixed Fees represent an approximately 30% to 45% discount from KPMG (Canada) s standard rates. Of the aggregate time expended, 40.9 hours were expended by partners, 11.3 hours were expended by managing directors and associate directors, hours were expended by managers and senior managers and hours were expended by senior associates and associates. KPMG s blended hourly rate for non-fixed Fee services provided during the Compensation Period was $ KPMG (Canada) charges its fees in these cases in accordance with the terms set forth in the Retention Application and the corresponding Kruh Declaration. The fees applied for herein are based on the usual and customary fees KPMG (Canada) charges to audit, 4 For the Interim Review Services, KPMG (Canada) bills in two installments of $158,000 on August 1, 2015 and November 1, 2015 (plus expenses). Pursuant to the Interim Review Services engagement letter approved by the Court, the first payment, which is for interim review services for the period ended June 30, 2015, is due August 1, KPMG (Canada) has been performing such services since the Petition Date, thus, this first monthly fee request is inclusive of the first payment of $158, As per the transfer pricing engagement letter, a copy of which is annexed to the Retention Application, but subject to the terms of the Interim Compensation Order, CAD$20,000 (USD$15,292 using an exchange rate of CAD$1 to USD$ as of noon on August 15, 2015) was due on July 15,

12 tax and advisory clients and are commensurate with the usual and customary rates charged for services performed. 12. KPMG (Canada) respectfully submits that the amounts applied for herein for professional services rendered on behalf of the Debtors in these cases to date are fair and, to the extent applicable, reasonable given: (a) the time expended; (b) the nature and extent of the services performed at the time at which such services were rendered; (c) the value of such services; and (d) the costs of comparable services other than in these chapter 11 cases. 13. During the Compensation Period, KPMG (Canada) provided a focused range of professional services as requested by the Debtors. KPMG (Canada) respectfully submits that these services were necessary and beneficial to the successful and prompt administration of these cases and have been provided in a cost efficient manner. The time and labor expended by KPMG (Canada) during the Compensation Period has been commensurate with the size and complexity of these cases. 14. As set forth in the Retention Application and the Kruh Declaration, KPMG (Canada) uses the services of certain professionals from member firms of KPMG International when necessary in the performance of KPMG s (Canada) professional duties and services to the Debtors. Except as set forth in therein, no promises concerning compensation have been made to KPMG (Canada) by any firm, person or entity. Summary of Actual and Necessary Expenses During the Compensation Period 15. Attached hereto as Exhibit D1 is a detailed description of actual and necessary expenses incurred by KPMG (Canada) during the Compensation Period. As set forth on Exhibit D, KPMG (Canada) seeks reimbursement of actual and necessary expenses incurred by KPMG during the Compensation Period in the aggregate amount of $32, In accordance with the Retention Application, as approved by the Retention Order, expenses -7-

13 include reimbursement of outside counsel incurred in connection with retention and fee related matters. Itemized time detail for such counsel is included in Exhibit D To the extent the itemization of expenses set forth on Exhibit D, D1 and D2 is insufficient to satisfy the requirements of Local Rule (e)(ii), KPMG (Canada) respectfully requests that the Court waive strict compliance with such Rule. Notice 17. This Application has been or will be served in accordance with the Interim Compensation Order and the Local Rules. If no objections to the monthly fee application are made in accordance with the Interim Compensation Order, KPMG (Canada) is authorized to receive 80% of the fees and 100% of the expenses requested in this Application pursuant to the terms of the Interim Compensation Order. Reservation 18. To the extent that time for services rendered or disbursements incurred relate to the Compensation Period, but were not processed prior to the preparation of this Application, KPMG (Canada) reserves the right to request additional compensation for such services and reimbursement of such expenses in a future application. -8-

14 Conclusion WHEREFORE, KPMG (Canada) respectfully requests that the Court: (a) authorize (i) interim allowance of compensation for professional services rendered by KPMG (Canada) for the Debtors during the Compensation Period in the amount of $308,578.70; 6 and (ii) reimbursement of actual and necessary expenses incurred by KPMG (Canada) in connection with the rendition of professional services for the Debtors during the Compensation Period in the amount of $32,785.64; and (b) grant such other and further relief as the Court deems just and proper. Dated: October 6, 2015 Respectfully submitted, Willy Kruh KPMG LLP (Canada) 333 Bay Street, Suite 4600 Toronto, Ontario M5H 2S5 6 KPMG incurred $308, in fees during the Compensation Period. Eighty percent of this total fee amount is $246, However, the amount requested includes $3,548 (80% of $4,435 for fees for the Barbados Audit (as defined below)) and KPMG (Canada) does not intend to seek payment from the Debtors for such amount as it will apply such amount against its prepetition retainer; and (2) as per the Retention Order, KPMG (Canada) also is providing a one-time credit of $33, (CAD$43,662.01, using a conversion rate of CAD$1 to USD$ as of August 13, 2015, the date the Retention Order was entered). Accordingly, the total payment KPMG (Canada) will seek from the Debtors is $209,

15 EXHIBIT A Summary Of Hours and Discounted Fees Incurred By Professional Professional Position Current Hours Billed Discounted Hourly Rate Discounted Fees Billed Agha Ali Senior Manager - IT Advisory 58.1 $ 377 $ 21, Agnes Mak Partner - Tax 10.9 $ - $ - Alexander Buzas Associate -Tax 8.9 $ - $ - Ashby Corum Partner - Tax 1.0 $ 710 $ Brad Owen Partner - Audit 0.5 $ 595 $ Brad Owen Partner - Audit 0.8 $ - $ - Bryant Ramdoo Senior Manager - Audit 67.8 $ 450 $ 30, Bryant Ramdoo Senior Manager - Audit 33.8 $ - $ - Chris Keuleman Senior Accountant/Consultant 18.1 $ 200 $ 3, Chris Keuleman Senior Accountant/Consultant 55.9 $ - $ - Craig Myers Senior Associate -Tax 2.5 $ - $ - Daniyal Fahim Senior Accountant/Consultant - Audit 14.0 $ 200 (2) $ 2, David Evans Partner - Strategy & Operations 9.0 $ 492 $ 4, Heather O'Hagan Partner - International Tax 0.7 $ 710 $ Israel Tarshish Senior Manager -Tax 2.5 $ 560 $ 1, Ivan Y Li Manager - Tax 20.0 $ 440 $ 8, Ivan Y Li Manager - Tax 1.5 $ - $ - Jamie Tong Senior Accountant/Consultant - Audit 37.6 $ 200 $ 7, Jamie Tong Senior Accountant/Consultant - Audit 24.8 $ - $ - Jordan Wall Specialist / Senior Consultant -Tax 10.8 $ - $ - Karly Kopczynski Associate - Audit 18.5 $ - $ - Ken Santiano Senior Manager -Tax 3.0 $ 560 $ 1, Ken Santiano Senior Manager -Tax 0.7 $ - $ - Kevin Hutchinson Senior Manager 0.2 $ 490 $ Kyle Leung Staff Accountant/Consultant - Audit 5.9 $ 150 $ Kyle Leung Staff Accountant/Consultant - Audit 65.4 $ - $ - Kyle Leung Staff Accountant/Consultant - Audit 10.9 $ 150 (2) $ 1, Lisa Hackard Partner - Audit 2.6 $ 535 $ 1, Lisa Hackard Partner - Audit 8.6 $ - $ - Michael Tan Staff Accountant/Consultant - Audit 38.0 $ 150 $ 5, Michael Tan Staff Accountant/Consultant - Audit 40.8 $ - $ - Monica Plangman Associate Director 8.9 $ 255 $ 2, Nathan Heinrichs Senior Manager - Tax 18.0 $ - $ - Ray J. Romanin Partner - Tax 1.3 $ 710 (3) $ Ray J. Romanin Partner - Tax 3.6 $ 695 (4) $ 2, Renee W. Lammers Senior Manager - Tax 5.2 $ 560 (3) $ 2, Renee W. Lammers Senior Manager - Tax 9.2 $ 550 (4) $ 5, Renee W. Lammers Senior Manager - Tax 1.4 $ - $ - Ronald C. Maiorano Partner - Tax 3.0 $ 710 $ 2, Ronald C. Maiorano Partner - Tax 1.0 $ - $ - Sangwoo Lee Staff Accountant/Consultant - Audit 20.5 $ 200 $ 4, Sangwoo Lee Staff Accountant/Consultant - Audit 45.1 $ - $ - Sara Landon Manager - Audit 16.0 $ - $ - Scott Jandt Partner -Tax 10.2 $ 710 $ 7, Stephanie D Holland Specialist / Senior Consultant - Tax 7.9 $ 320 $ 2, Wendy Shaffer Senior Associate - Bankruptcy 27.5 $ 180 $ 4, Will J. Stephen Partner - Audit 6.7 $ 595 $ 3, KPMG LLP Monthly Fee Statement Page 1 of 57

16 EXHIBIT A Summary Of Hours and Discounted Fees Incurred By Professional Professional Position Current Hours Billed Discounted Hourly Rate Discounted Fees Billed Will J. Stephen Partner - Audit 8.0 $ - $ - Willy Kruh Partner - Consumer Markets 2.3 $ 595 $ 1, Wilson Machado da Silva Jr. Senior Associate - Audit 41.5 $ - $ - Yinka Kukoyi Managing Director -Tax 2.4 $ 600 $ 1, Total Hours and Discounted Fees $ 135, Interim Review Services (Fixed Fees) 158, $ (5) Transfer Pricing Services (Fixed Fees) $ 15, (6) Total Discounted and Fixed Fees $ 308, Less Holdback Adjustment (20%) $ (61,715.74) Total fees less holdback adjustment $ 246, Barbados credit related to prepetition retainer $ (3,548.00) (2) Subtotal of fees $ 243, Less Credit as per Retention Order $ (33,425.88) (7) Net requested fees $ 209, Out of Pocket Expenses $ 32, Actual Payment Sought $ 242, Blended Hourly Rate (Exclusive of Fixed Fees) $ As set forth in the Retention Application, KPMG (Canada) does not charge hourly rates for Fixed Fee services. (2) Prior to the Petition Date, KPMG (Canada) received $30,000 in estimated fees for Magnequench Limited and Neo International Corp. audit services. KPMG incurred total fees in this monthly application of $4,435 for services provided by D. Fahim and K. Leung. The total amount requested includes $3,548 (80% of total fees of $4,435 for the Barbados Audit) as defined in the Retention Application; KPMG (Canada) does not intend to seek payment from the Debtors for such amount as it will apply such amount against its prepetition retainer; therefore a credit is noted. (3) Discounted rate for Tax Compliance/Advisory - Restructuring Tax Consulting Services (4) Discounted rate for Tax Consultancy /Advisory Services - Canadian Tax Compliance/Advisory Services (5) For the 2015 Interim Review Services (as defined in the Application), the Debtors and KPMG (Canada) agreed to a base fee of $158,000 for the interim review period ended June 30, (6) For in-scope Transfer Pricing services (as defined in the application), the Debtors and KPMG (Canada) agreed to a base fee of CAD $90,000, with USD $30,800 remaining to be paid in monthly installments. $15,292 (CAD$20,000) is requested in this first monthly fee application using an exchange rate of $1USD to $0.7646CAD as of noon August 15, (7) In accordance with the Retention Order, KPMG (Canada) is providing a credit in this first monthly fee application of CAD$43, (USD $33,425.88); the total credit in US dollars of $33, was calculated using a conversion rate of $1USD to $ CAD on 8/13/15 (the date the Retention Order was entered by the Court). KPMG LLP Monthly Fee Statement Page 2 of 57

17 EXHIBIT B Summary of Hours and Discounted Fees Incurred by Category Category Exhibit Hours Fees Interim Review Services C $ 158, Out of Scope Interim Review Services C $ 41, Magnequench Limited and Neo International Corp. Audit Services C $ 4, (2) Tax Consultancy /Advisory Services - Canadian Tax Compliance/Advisory C $ 19, Tax Compliance/Advisory - Restructuring Tax Consulting Services C $ 13, IT Advisory Services C $ 26, Transfer Pricing Services C $ 15, Retention Services C $ 24, Fee Statement and Fee Application Preparation Services C $ 5, Total Fixed and Discounted Fees $ 308, Services billed on Fixed Fee basis per the Retention Order (2) Prior to the Petition Date, KPMG (Canada) received $30,000 in estimated fees for Magnequench Limited and Neo International Corp. audit services. KPMG (Canada) intends to apply 80% of the total amount incurred during the Compensation Period for such services against the remaining retainer balance. KPMG LLP Monthly Fee Statement Page 3 of 57

18 EXHIBIT C1 Interim Review Services Name Date Description Hours Total Bryant Ramdoo 06/26/15 Prepared Q2 materiality considerations 0.5 Bryant Ramdoo 06/26/15 Discuss Q2 materiality 0.6 Bryant Ramdoo 06/26/15 Updated Molycorp Q2 group review instructions 3.3 Bryant Ramdoo 06/26/15 Determine and calculate materiality thresholds for Q2 interim 1.1 review Bryant Ramdoo 06/26/15 Prepare Q2 global instructions to KPMG member firms for work 3.3 to be performed for second quarter interim review. Bryant Ramdoo 06/27/15 Discussion with B. Owen (Partner, KPMG) regarding the 0.2 determination of Molycorp Q2 materiality. Bryant Ramdoo 06/27/15 Process changes from Partner Review (W. Stephen, KPMG) for 0.3 Q2 global instructions Bryant Ramdoo 06/27/15 Finalize Q2 global instructions to KPMG member firms for work 1.5 to be performed for second quarter interim review. Sara Landon 07/07/15 Draft list of outstanding Q2 documents/schedules 0.5 Ivan Y Li 07/08/15 Discussion with D. Sinha (VP Tax - Molycorp) regarding 0.7 Molycorp Q2 quarterly tax provision. Sara Landon 07/08/15 Discussion with D. Cordsen (Molycorp Controller) regarding 0.2 Molycorp Q2 Mt Pass visit. Sara Landon 07/08/15 Draft list of procedures to be performed. 0.3 Sara Landon 07/08/15 Analyzed Molycorp Mt. Pass Q2 Group review instructions 0.5 Ivan Y Li 07/08/15 Discuss internally Molycorp quarterly tax provision, including 0.8 potential loss limitations, etc. Sara Landon 07/08/15 Review Molycorp Mt Pass Q2 Group review instructions. 0.5 Bryant Ramdoo 07/09/15 Web-ex meeting with A. Ang (Molycorp), A. Spinello (Molycorp) 2.8 regarding changes to management's asset retirement obligation provision. Bryant Ramdoo 07/09/15 Follow up research regarding asset retirement obligation 3.5 accounting (U.S. GAAP) Ken Santiano 07/09/15 Call with D. Sinha (Molycorp VP of Tax), R. Lammers (KPMG Senior Manager), K Santiano (KPMG Senior Manager) regarding tax accounting for financial statement reporting purposes, etc. 0.7 Will J. Stephen 07/09/15 Review details on Molycorp, Inc. including latest bankruptcy information and information available for interim statements. 1.4 Sara Landon 07/09/15 Discussion Molycorp Mt Pass Q2'15 Asset Retirement 0.5 Obligation changes. Sara Landon 07/09/15 Discuss presentation of Asset Retirement Obligation (ARO) 1.0 model. Lisa Hackard 07/09/15 Discuss Molycorp Mt Pass Q2'15 Asset Retirement Obligation 0.5 changes Lisa Hackard 07/09/15 Perform scoping / planning related to Q Audit review 0.5 procedures. Bryant Ramdoo 07/14/15 Meeting to prepare for client meeting. 0.6 Chris Keuleman 07/17/15 Draft the completion screens. 0.4 Chris Keuleman 07/17/15 Meeting regarding significant events impacting Molycorp, Inc. for 0.6 Q Chris Keuleman 07/17/15 Reviewed form 8-Ks released by Molycorp, Inc. 0.7 KPMG LLP Monthly Fee Statement Page 4 of 57

19 EXHIBIT C1 Interim Review Services Name Date Description Hours Total Chris Keuleman 07/17/15 Reviewed Molycorp press releases. 1.0 Chris Keuleman 07/17/15 Draft quarterly working papers 1.1 Chris Keuleman 07/17/15 Prepare risk assessment eaudit screen 1.7 Lisa Hackard 07/17/15 Discuss scope of Q2 review for Molycorp Mt. Pass / nature of 0.5 procedures related to ARO. Lisa Hackard 07/17/15 Reviewed documentation / procedures related to Mt Pass Q2 0.5 review in prep for call. Chris Keuleman 07/20/15 Meeting regarding status of the Molycorp Interim Review 0.4 engagement. Chris Keuleman 07/20/15 Meeting with D. Ding (Molycorp, Inc.), C. Lin (Molycorp, Inc.) 0.4 Chris Keuleman 07/20/15 Meeting to discuss status, next steps for Interim review. 0.5 Chris Keuleman 07/20/15 Prepare shareholder lending agreements memo 0.9 Chris Keuleman 07/20/15 Reviewed Molycorp' s prior period shareholder lending 1.3 agreements Bryant Ramdoo 07/20/15 Discussion with A. Ang (Molycorp) on progress of Q2 0.6 impairment considerations Bryant Ramdoo 07/20/15 Meeting to discuss issues related to Chapter 11 / Q2 1.5 Jamie Tong 07/20/15 Discuss research over liability subject to compromise, 0.4 reorganization costs, asset impairment Jamie Tong 07/20/15 Met with D. Ding (Molycorp, Inc.), C. Lin (Molycorp, Inc.) to 0.4 discuss requests related to undiscounted cash flow. Jamie Tong 07/20/15 Meeting to discuss Interim review issues. 0.5 Kyle Leung 07/20/15 Rollforward analytical for Molycorp, Inc. segment: 0.3 "Consolidated." Kyle Leung 07/20/15 Draft representation letters. 0.4 Kyle Leung 07/20/15 Meeting regarding status of the Molycorp Interim Review 0.4 engagement. Kyle Leung 07/20/15 Update Molycorp audit findings report 0.4 Kyle Leung 07/20/15 Meeting to discuss status, next steps for Interim review. 0.5 Kyle Leung 07/20/15 Rollforward the analytical for Molycorp, Inc. segment 0.7 "Corporate." Kyle Leung 07/20/15 Rollforward analytical for Molycorp, Inc. segment "Chemicals & 0.9 Oxides" Kyle Leung 07/20/15 Rollforward analytical for Molycorp, Inc. segment "Metals, 0.9 Magnetics & Alloys." Kyle Leung 07/20/15 Rollforward analytical for Molycorp, Inc. segment "Rare Metals" 0.9 Michael Tan 07/20/15 Meeting regarding status of the Molycorp Interim Review 0.4 engagement. Michael Tan 07/20/15 Meeting to discuss status, next steps for Interim review. 0.5 Sangwoo Lee 07/20/15 Communicate with client regarding SharePoint. 0.1 Sangwoo Lee 07/20/15 Discussion outstanding documents list 0.3 Sangwoo Lee 07/20/15 Set up the SharePoint portal 0.3 Sangwoo Lee 07/20/15 Meeting regarding status of the Molycorp Interim Review 0.4 engagement. Sangwoo Lee 07/20/15 Research over returned shares. 0.4 Sangwoo Lee 07/20/15 Meeting to discuss status, next steps for Interim review. 0.5 KPMG LLP Monthly Fee Statement Page 5 of 57

20 EXHIBIT C1 Interim Review Services Name Date Description Hours Total Sangwoo Lee 07/20/15 Research regarding disclosures in financial statements. 0.6 Sangwoo Lee 07/20/15 Draft list of outstanding documents 0.9 Lisa Hackard 07/20/15 Review planned Q Molycorp Mt Pass Audit review 0.4 procedures Chris Keuleman 07/21/15 Discuss updates to the Molycorp Interim review process. 0.3 Chris Keuleman 07/21/15 Update memo regarding Molycorp Inc. Chapter 11 Bankruptcy 0.9 timeline. Chris Keuleman 07/21/15 Prepare shareholder lending agreements memo. 1.0 Chris Keuleman 07/21/15 Prepare disclosure checklist for US (GAAP) 4.2 Jamie Tong 07/21/15 Discuss updates to the Molycorp Interim review process. 0.3 Kyle Leung 07/21/15 Discuss updates to the Molycorp Interim review process. 0.3 Kyle Leung 07/21/15 Discussion with M. Lin (Molycorp Senior Manager of Internal 0.3 Controls) and K. Hua (Molycorp Senior Manager of Consolidation). Kyle Leung 07/21/15 Prepared inventory provision memo. 0.7 Kyle Leung 07/21/15 Analyze Lower of Cost & Market (LCM) review approach 1.2 Kyle Leung 07/21/15 Draft representation letters. 1.5 Michael Tan 07/21/15 Document results of meeting with A. Ang (Molycorp). 0.1 Michael Tan 07/21/15 Met to discuss Tolleson Magnetic Materials & Alloys (MMA) 0.1 accounts payable subledger. Michael Tan 07/21/15 Re-calculate Molycorp interest expense. 0.2 Michael Tan 07/21/15 Discuss updates to the Molycorp Interim review process. 0.3 Michael Tan 07/21/15 Review outstanding items 0.3 Michael Tan 07/21/15 Reviewed third party guidance on debt issuance costs. 1.8 Sangwoo Lee 07/21/15 Research implication of returned shares 0.3 Sangwoo Lee 07/21/15 Discuss updates to the Molycorp Interim review process. 0.3 Sangwoo Lee 07/21/15 Draft work paper regarding IFRS versus Local Reporting GAAP. 0.3 Sangwoo Lee 07/21/15 Research accounting standard codification 0.4 Lisa Hackard 07/21/15 Analyze company into to the FASB standards on Asset 0.3 Retirement Obligations Lisa Hackard 07/21/15 Review company prepared info for Q2'15 Asset Retirement 0.4 Obligations Chris Keuleman 07/22/15 Update shareholder lending agreements memo. 1.4 Chris Keuleman 07/22/15 Draft the disclosure checklist for US (GAAP) 1.4 Chris Keuleman 07/22/15 Met to discuss status of Molycorp Interim review 1.8 Chris Keuleman 07/22/15 Prepare draft review findings report for Q Bryant Ramdoo 07/22/15 Discuss springing maturity with A. Ang (Molycorp). 0.7 Bryant Ramdoo 07/22/15 Discuss questions regarding impairment / share-lending. 1.8 Jamie Tong 07/22/15 Finalized Review Report (DRAFT) 0.2 Jamie Tong 07/22/15 Prepared review report - based on Q review report 0.4 Jamie Tong 07/22/15 Discussion with K. Hua (Molycorp, Inc.) regarding consolidation 0.6 entries. Jamie Tong 07/22/15 Review Molycorp Management Representation letter. 0.6 Jamie Tong 07/22/15 Research review reports 0.6 Jamie Tong 07/22/15 Met with B. Ramdoo to discuss status of Molycorp Interim review 1.8 Jamie Tong 07/22/15 Revise Molycorp Q2 Management Representation letter. 1.8 KPMG LLP Monthly Fee Statement Page 6 of 57

21 EXHIBIT C1 Interim Review Services Name Date Description Hours Total Kyle Leung 07/22/15 Rollforward analytical for Molycorp, Inc. segment 0.2 "Consolidated." Kyle Leung 07/22/15 Discuss interest expense entries with M. Chen (Molycorp 0.3 Corporate Accountant). Kyle Leung 07/22/15 Rollforward analytical for Molycorp, Inc. segment "Corporate." 0.4 Kyle Leung 07/22/15 Rollforward analytical for Molycorp, Inc. segment "Magnetic 0.4 Materials & Alloys Tolleson." Kyle Leung 07/22/15 Review consolidated schedule 0.6 Kyle Leung 07/22/15 Revised Molycorp inventory valuation memo 0.6 Kyle Leung 07/22/15 Rollforward analytical for "Chemicals & Oxides" segment. 0.6 Kyle Leung 07/22/15 Rollforward analytical for "Rare earth" segment. 0.6 Kyle Leung 07/22/15 Rollforward analytical for "Resources" segment. 0.6 Kyle Leung 07/22/15 Analyzed variances for analytical procedures. 1.2 Kyle Leung 07/22/15 Researched third party market prices. 1.2 Sangwoo Lee 07/22/15 Communicated Molycorp strike warrants valuation matters. 0.1 Sangwoo Lee 07/22/15 Draft Molycorp final analytics workpaper 0.2 Sangwoo Lee 07/22/15 valuation team with request to perform valuation - strike 0.2 warrants Sangwoo Lee 07/22/15 Met to discuss rare metal prices outlook 0.2 Sangwoo Lee 07/22/15 Discuss interest expense entries with M. Chen (Molycorp 0.3 Corporate Accountant). Sangwoo Lee 07/22/15 Research over rare metal pricing outlook 0.4 Sangwoo Lee 07/22/15 Prepare management inquiries - required for risk assessment 0.8 Chris Keuleman 07/23/15 Met with K. Hua (Molycorp, Inc.) and M. Lin (Molycorp, Inc.) to 0.2 request summary of consolidating entities' purposes. Chris Keuleman 07/23/15 Revised shareholder lending agreements memo 0.3 Chris Keuleman 07/23/15 Update Molycorp memo on the Chapter 11 / bankruptcy 0.4 timeline/details. Chris Keuleman 07/23/15 Draft completion audit screens. 0.5 Chris Keuleman 07/23/15 Discuss status of Molycorp Interim Review. 0.6 Chris Keuleman 07/23/15 Prepare Summary of Review Misstatements schedule 0.9 Chris Keuleman 07/23/15 Review of consolidation entries and workbooks from Q Chris Keuleman 07/23/15 Update Interim Review project tracker 1.1 Chris Keuleman 07/23/15 Draft review findings report for Q Bryant Ramdoo 07/23/15 Discuss Q2 Review Report with J. Tong (KPMG). 0.2 Jamie Tong 07/23/15 Discuss updates required to the Molycorp Q2 Review Report. 0.2 Jamie Tong 07/23/15 Met with K. Hua (Molycorp, Inc.) and M. Lin (Molycorp, Inc.) to 0.2 request summary of consolidating entities' purposes. Jamie Tong 07/23/15 Met to discuss status of Molycorp Interim Review. 0.6 Jamie Tong 07/23/15 Revised Going Concern Consult memo 1.3 Jamie Tong 07/23/15 Revised Management Representation letter. 1.3 Jamie Tong 07/23/15 Revise Molycorp Going Concern memo. 1.8 Kyle Leung 07/23/15 Communicate guidance / instruction for reporting package 0.4 completion. Kyle Leung 07/23/15 Discuss items to be address for Molycorp Interim Review. 0.6 KPMG LLP Monthly Fee Statement Page 7 of 57

22 EXHIBIT C1 Interim Review Services Name Date Description Hours Total Kyle Leung 07/23/15 Analyzed variances for analytical procedures. 0.8 Kyle Leung 07/23/15 Analyzed variances for analytical procedures. 1.1 Kyle Leung 07/23/15 Analyzed variances for analytical procedures. 1.1 Kyle Leung 07/23/15 Analyzed variances for analytical procedures. 1.2 Kyle Leung 07/23/15 Analyzed variances for analytical procedures. 2.1 Michael Tan 07/23/15 Discuss status of Molycorp Interim Review. 0.6 Michael Tan 07/23/15 Set up analytical review procedures for Molycorp MMA segment. 2.3 Michael Tan 07/23/15 Set up analytical review procedures - MMA segment. 3.7 Sangwoo Lee 07/23/15 Draft outstanding questions related to variances. 0.2 Sangwoo Lee 07/23/15 Discuss internally status of Molycorp Interim Review. 0.6 Sangwoo Lee 07/23/15 Performed variance analytical procedures 3.0 Sara Landon 07/23/15 Discuss internally analytical review notes / expectations. 0.3 Sara Landon 07/23/15 Review Molycorp Mt Pass Q2 15 analytical set up. 0.3 Sara Landon 07/23/15 Discuss internally Molycorp Q Mt Pass review. 0.4 Sara Landon 07/23/15 Review Molycorp Mt Pass Q2 15 eaudit screens 1.0 Lisa Hackard 07/23/15 Analyze Molycorp' s expert-prepared information 0.3 Lisa Hackard 07/23/15 Review Molycorp prior year workpaper documentation - Asset 0.7 Retirement Obligations. Wilson Machado da Silva Jr. 07/23/15 Reviewed Q2 analytical procedures 1.0 Wilson Machado da Silva Jr. 07/23/15 Updated Molycorp Q2 procedures in the Molycorp eaudit 2.3 Wilson Machado da Silva Jr. 07/23/15 Prepare Q2 analytical procedures according to the interoffice 3.1 instructions. Chris Keuleman 07/24/15 Met to discuss Molycorp Interim Review status, challenges 0.4 Chris Keuleman 07/24/15 Prepare Summary of Review Misstatements schedule 0.4 Chris Keuleman 07/24/15 Reviewed final component reporting documentation. 4.0 Jamie Tong 07/24/15 Met to discuss Q2 Independence Jamie Tong 07/24/15 Discuss Molycorp Interim Review challenges, next steps. 0.4 Kyle Leung 07/24/15 Met to discuss outstanding issues items 0.4 Kyle Leung 07/24/15 Met with M. Chen (Molycorp, Inc.) regarding journal entries. 0.4 Kyle Leung 07/24/15 Revised analytical numbers for Molycorp business segments 0.9 Kyle Leung 07/24/15 Analyzed variances for analytical procedures: SG&A, other 2.4 income, foreign gains/losses. Kyle Leung 07/24/15 Analyzed variances for analytical procedures: revenues and cost 2.6 of sales. Michael Tan 07/24/15 Met with M. Chen (Molycorp, Inc.) regarding journal entries. 0.4 Michael Tan 07/24/15 Revise documentation in Liabilities Subject to Compromise 1.8 memo Sangwoo Lee 07/24/15 Draft for to request independence confirmation. 0.2 Sangwoo Lee 07/24/15 Met to discuss Q2 Independence. 0.2 Sangwoo Lee 07/24/15 Review audit presentation procedures 0.3 Michael Tan 07/24/15 Met to discuss status of the Molycorp Interim Review 0.4 Sangwoo Lee 07/24/15 Met to discuss status of the Molycorp Interim Review 0.4 Sangwoo Lee 07/24/15 Prepare the US Difference workpaper 0.6 KPMG LLP Monthly Fee Statement Page 8 of 57

23 EXHIBIT C1 Interim Review Services Name Date Description Hours Total Sangwoo Lee 07/24/15 Document management inquiries performed with A. Ang 0.7 (Molycorp) Sangwoo Lee 07/24/15 Perform variance analytics. 1.3 Lisa Hackard 07/24/15 Research over firm auditing / accounting requirements 0.6 Wilson Machado da Silva Jr. 07/24/15 Discussion with D. Cordsen (Molycorp) and R. Mission 1.0 (Molycorp) regarding variances. Wilson Machado da Silva Jr. 07/24/15 Document variances in the Molycorp Q2 analytical procedures. 2.0 Lisa Hackard 07/25/15 Reviewed Q2'15 Asset Retirement Obligations information. 0.8 Chris Keuleman 07/27/15 Analyze Board of Directors meeting minutes 1.1 Chris Keuleman 07/27/15 Review KPMG Baltic's component reporting for Molycorp Silmet 1.4 AS Chris Keuleman 07/27/15 Review draft of the financial statements 3.6 Bryant Ramdoo 07/27/15 Communicate with M. Tan (KPMG) regarding SEC comment 0.2 letter disclosures. Bryant Ramdoo 07/27/15 Research accounting for debt under GAAP. 2.4 Jamie Tong 07/27/15 Discuss Asset Retirement Obligation questions with A. Ang 0.3 (Molycorp, Inc.). Jamie Tong 07/27/15 Review 10-Q feedback provided by J. Jackson (Molycorp, Inc.) 0.3 Jamie Tong 07/27/15 Reviewed Molycorp 10-Q, (pages 31-43) 0.5 Jamie Tong 07/27/15 Reviewed Molycorp 10-Q, (pages 21-30). 1.0 Jamie Tong 07/27/15 Reviewed Molycorp 10-Q, (pages 1-20). 1.3 Kyle Leung 07/27/15 Discuss inventories provision with A. Ang (Molycorp Inc.). 0.3 Kyle Leung 07/27/15 Discuss sales summary with D. Ding (Molycorp Inc.). 0.3 Kyle Leung 07/27/15 Discussion with K. Hua (Molycorp Inc.) regarding inventory 0.3 provision process. Kyle Leung 07/27/15 Draft questions related to Chemicals & Oxides segment analytics 0.3 Kyle Leung 07/27/15 Created inventory provision template 0.8 Kyle Leung 07/27/15 Reviewed Molycorp inventory provision schedule 0.9 Kyle Leung 07/27/15 Revised Molycorp inventory provision process 1.4 Kyle Leung 07/27/15 Researched third party market prices 1.9 Michael Tan 07/27/15 Revised the Molycorp disclosures memo. 0.7 Michael Tan 07/27/15 Review draft of Molycorp 10-Q 1.2 Michael Tan 07/27/15 Perform analytical review procedures - MMA segment. 2.2 Sangwoo Lee 07/27/15 Perform Corporate Segment variance analysis 0.2 Sangwoo Lee 07/27/15 Update Corporate Segment variance analysis working paper 0.3 Sangwoo Lee 07/27/15 Reviewed updated variances in Corporate Segment 0.4 Sangwoo Lee 07/27/15 Draft memo to related to consolidation entries 0.7 Sangwoo Lee 07/27/15 Update US Review Standards Difference working paper 0.9 Sangwoo Lee 07/27/15 Draft memo regarding consolidation entries 2.2 Sara Landon 07/27/15 Addressing review notes 1.0 Sara Landon 07/27/15 Review of Q2 15 Mt Pass deliverables 1.5 Sara Landon 07/27/15 Review Asset Retirement Obligation memo 2.0 Karly Kopczynski 07/27/15 Transfer Q2 templates for Communications workpapers 0.6 Karly Kopczynski 07/27/15 Updated Molycorp Q2 Communications work papers 3.9 KPMG LLP Monthly Fee Statement Page 9 of 57