Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a critical metals production innovator, is accelerating its efforts to establish a North American-focused supply chain for rare earth elements (“REEs”). The company announced 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 rare earth oxides in 2024 and increasing it to 5,000 metric tons in 2026. Rare earths are vital to many computerized application processes and, though plentiful around the world, tend to make up a small portion of the ores they are found in, requiring a labor-intensive methodology for extracting the REEs,” a recent article reads. “It is critical that the United States leads in establishing the critical metals supply chain essential to a changing manufacturing landscape across North America,” Ucore CEO and Chairman Pat Ryan is quoted as saying. “The establishment of the Louisiana SMC in Alexandria represents one of these first building blocks and a significant contributor to the shift toward energy production and consumption diversification.”
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About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation and separation technologies with the potential for production, growth and scalability. Ucore’s vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry. Through strategic partnerships, this plan includes disrupting the People’s Republic of China’s control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the U.S. state of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore’s 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA. Ucore is listed on the TSXV under the trading symbol UCU and in the United States on the OTC Markets’ OTCQX(R) Best Market under the ticker symbol UURAF.
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