- A recent Reuters report focused its attention on rare earth mining companies’ efforts to strengthen American self-sufficiency in the production of natural elements vital to modern computerized products
- Rare earth element (“REE”) enterprise Ucore Rare Metals Inc. is gaining attention as a company focused on the refining of already mined rare earths to specialize in a particular sector of the supply chain, using its proprietary RapidSX(TM) technology
- The rare earth supply chain has been a subject of concern for years because of China’s near-monopoly on mining, refining, and production, for permanent magnets, strategic because of their use in a wide variety of applications, including electric vehicles and fighter jets
- The high value placed on strengthening rare earth supply chain independence is demonstrated in the multi-million dollar award Ucore has received from the U.S. Department of Defense, accompanied by a $4.28 million award from Canada, to advance its RapidSX(TM) commercialization
A range of concerns among government leaders and industry professionals have created a high-pressure competition to develop new REE refining solutions among Western enterprises. Issues that involve REE-based products include climate change, the mining industry’s forced reliance on Chinese companies for processing rare earth elements (“REEs”) used in modern computerized products, and also resource supply chain impediments sparked by the COVID pandemic and political sea changes.
Canadian-based Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) is at the leading edge of the race, currently in the process of developing its Louisiana facility for the commercial-scale use of its…
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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