- Canada-based Ucore Rare Metals Inc. is preparing to begin construction on a rare earth element (“REE”) processing plant in Louisiana that it says will be the first REE separation facility to operate at commercial scale in North America
- Currently, China dominates both REE feedstock supply and REE processing capacity on a global basis, generating concerns that it can control the world’s ability to build modern technologies and use its control to retaliate against countries in adversarial situations
- Modern technologies that rely on REEs for crucial magnets in their composition include phones, computers, household appliances, electric vehicles, solar panels, and wind turbines
- Ucore plans to provide 2,000 metric tons of total rare earth oxides (“TREOs”) annually by late next year, increasing that amount to 5,000 metric tons in 2025
Critical metals production innovator Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) is accelerating its efforts to establish a North American-focused supply chain for rare earth elements (“REEs”) since announcing in April that it had reached an agreement to lease an 80,800 square-foot brownfield facility in Alexandria, Louisiana for its first Strategic Metals Complex (“SMC”) facility for REE separation and oxide production.
The company has strengthened its financial position and is working to fulfill plans to launch construction of the Louisiana SMC this year, building to a production capacity of 2,000 metric tons of total…
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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