NetworkNewsBreaks — Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Comments on China Ban on Export of REE Tech, Notes Company’s REE Focus Is of ‘Increasing Strategic Importance’
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a leading developer of rare earth element (“REE”) processing technology, has released comments regarding the ban by China on the export of technology for the processing of rare earth elements (“REEs”). According to the statement, China announced a ban last week on the export of technology to produce REE permanent magnets and also confirmed its existing ban on technology associated with the separation of REEs. In the announcement, Ucore noted the Asian country’s “virtual monopoly” on the processing of heavy rare earth elements such as dysprosium, observing that Ucore’s current $4 million contract with…
