- Rare earth elements (“REEs”) are metals in high demand for modern technologies ranging from phones to F-35 jets
- China currently maintains a commanding global control over the world’s REE supply chain, from mining to production, and has generated international controversy by introducing price increases and export restrictions
- The European Union imports 98 percent of its REE supply and the United States imports 78 percent of its REE supply from China
- Canada-based Ucore Rare Metals Inc. is demonstrating an REE process technology it regards as an improvement on the standard processing technology used by China, and Ucore intends to use its development for commercial REE processing in Louisiana
- Ucore has received a $4 million award from the U.S. Department of Defense to help demonstrate its capabilities, and is raising further financing through a brokered private placement announced June 16
Critical technology metals supply chain innovator Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) is continuing to build supportive financing for its push to build a North American base for rare earth element (“REE”) processing.
Ucore announced earlier this month that it had garnered a $4 million project award from the U.S. Department of Defense to demonstrate the capabilities of its RapidSX(TM) solvent extraction process (https://ibn.fm/k7XZ2), and built on that development with the announcement June 16 of a brokered…
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://ibn.fm/UURAF
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