In this InvestorIntel interview, Chris Thompson talks with Ucore Rare Metals Inc.’s (TSXV: UCU | OTCQX: UURAF) CEO and Chairman Pat Ryan about being awarded US$4 million from the US Department of Defense (DoD) to demonstrate rare earth element (REE) separation technology capabilities at its RapidSX™ Commercialization and Demonstration Facility in Kingston, Ontario.
Pat believes the award signifies recognition and credibility for Ucore’s work in the past years and its ability to process both heavy and light rare earths. He also comments that the DoD contract is open-ended, providing an opportunity for further commercial-level contracts in the future.
Providing an update on ramping up production at their Louisiana Strategic Metals Complex, Pat discusses how Ucore is securing US-friendly feedstock sources for its processing facility for converting heavy and light REEs feedstock sources to salable individual rare earth products. Ucore aims to be a first mover in delivering rare earth oxides to the North American market, proving commercial viability and insuring a domestic supply.
Pat remarks that investors can anticipate upcoming news regarding feedstock arrangements, potential off-take agreements, ongoing government support, and additional government funding opportunities.
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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 US 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.
To learn more about Ucore Rare Metals Inc., click here
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