- Ucore Rare Metals Inc. is a critical metals process developer intent on establishing North American-based resources for rare earth element (“REE”) production
- The company has developed its trademarked RapidSX(TM) process for separating REEs from ore deposits, describing it as a faster and more environmentally friendly solution than the industry standard process
- Ucore regards the establishment of a North American-based supply chain for REEs as a critical need to maintain the industry’s independence from China-dominated sourcing and processing
- The U.S. Department of Defense recently awarded Ucore $4 million to demonstrate the capabilities of RapidSX(TM)
- A new NetworkNewsWire (“NNW”) audio broadcast and accompanying editorial outline the efforts of Ucore and a handful of other companies aiming to strengthen North American REE production
More than a decade has passed since the rare earth trades dispute between China, on one side, and several nations including the United States, on the other, erupted over China’s rare earth element (“REE”) export restrictions (https://nnw.fm/aTbvI).
During the interim, the incident has continued to raise alarms as governments and industries search for ways to break China’s iron grip on the global REE supply chain that supplies critical mined resources for modern high-tech devices that range from smartphones and electric vehicle batteries to Abrams tanks and F-35s. An opinion piece published by Fox News in January highlighted the concerns with its headline, “China could shut down our military in a minute if we don’t fix the looming rare earths supply crisis” (https://nnw.fm/hiLNH).
China produces 92 percent of the world’s rare earth magnets and performs 85 percent of rare earth processing, as well as 63 percent of rare earth mining (https://nnw.fm/2N9OU).
REE processing innovator Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) has been developing technology to disrupt the China-reliant nature of the market, aiming to empower North American industry to extract rare earths from their mined ores using a process superior to the current standard.
An audio broadcast and accompanying editorial recently published by NetworkNewsWire (“NNW”) showcases the efforts of Ucore and a handful of other companies to protect the nations’ access to REEs (https://nnw.fm/rRBTN).
As the editorial notes, Ucore has launched a plant in Canada to demonstrate on a small scale the capabilities of its RapidSX(TM) technology to improve on the standard solvent extraction (“SX”) process for separating REEs from their host ores. And the company is scaling up to commercial production, having acquired a lease for an 80,800 square-foot brownfield facility in Louisiana where it will build its first Strategic Metals Complex (“SMC”) facility for REE separation and oxide production.
The U.S. Department of Defense provided a substantial boost to Ucore’s goals and to the company’s credibility by awarding a $4 million contract to help Ucore demonstrate the effectiveness and America-based capability of its RapidSX(TM) process to the government. Successful completion of the agreement’s requirements could lead to follow-on award opportunities for Ucore to continue its work.
“The full-scale production plant is scheduled to initially process 2,000 tonnes of total rare earth oxides by the end of 2024, increasing to 5,000 tonnes in 2026,” the editorial states (https://nnw.fm/6N56R). “Management believes that the cost of the company’s facilities will be supported by local and state government incentives as well as prepurchase (off-take) agreements from major manufacturers currently under development. All of this aligns with the final primary purpose of the $4 million DoD contract.”
For more information, visit the company’s website at www.Ucore.com.
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://nnw.fm/UURAF
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