July 15, 2024 — In a recent interview with InvestorNews, Jack Lifton spoke with Pat Ryan, the CEO and Chairman of Ucore Rare Metals Inc. (TSXV: UCU | OTCQX: UURAF), discussing the company’s significant advancements and strategic vision in the rare earth elements (REE, rare earths) sector. Ucore is at the forefront of rare earths sector, focusing on extraction, beneficiation, and separation technologies. The company aims to disrupt China’s dominance in the North American REE supply chain by establishing a state-of-the-art heavy and light rare earth processing facility in Louisiana and subsequent strategic complexes in Canada and Alaska. This aligns with Ucore’s broader objective to enhance supply chain resilience in the Western world, particularly in light of recent U.S. government actions to bolster the domestic electric vehicle (EV) market through increased tariffs on Chinese imports.
During the interview, Ryan highlighted the progress at Ucore’s Kingston Demonstration Facility (KDF), where they have been perfecting their RapidSX™ technology. “We’ve run several different feedstocks at the facility, including monazite, bastnaesite, and currently an ionic clay for the Department of Defense,” Ryan noted. This technology enables efficient separation of heavy rare earth elements, producing high-purity outputs like 98% dysprosium and 2% terbium, crucial for the EV industry’s permanent magnets. Ryan emphasized the importance of developing complete flow sheets to ensure the commercial viability of their Louisiana Strategic Metals Complex (SMC), which is set to commence production in Q4 2025 with an initial capacity of 2,500 tonnes per annum, scaling up to 7,500 tonnes.
Jack Lifton praised Ucore’s approach, underscoring its unique position in the industry: “You are the very first dedicated heavy rare separation plant outside of China,” he remarked. Ryan explained Ucore’s strategy of operating without a mine, instead focusing on mid-market separation processes and securing feedstock through quasi joint ventures. This model, combined with strong support from high-net-worth investors and government backing, positions Ucore to play a pivotal role in the Western REE market. “The fact that we’re on the Gulf Coast of the U.S. is a good place to be for plant #1,” Ryan said, highlighting the strategic location and technological edge of Ucore’s operations.
Pat Ryan will be a keynote speaker at the upcoming Critical Minerals Summit III in Toronto, Ontario on August 21-22, 2024. For more information, go to www.CriticalMineralSummit.com.
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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 establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes 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.
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