Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a strategic metals supply chain-focused enterprise, has entered a multi-decade lease agreement with the administrators of the England Airpark in Alexandria, Louisiana. Under the agreement, Ucore will build and operate a Strategic Metals Complex (“SMC”) where it will separate and produce REEs and oxides that are deemed critical to computer technology-based industries. “Currently, REE mining and refining are controlled by The People’s Republic of China to a degree that approaches a virtual monopoly. The European Union imports 98% of its REE supply from China and the United States gets 78% of its REE supply from China… Ucore’s advancing SMC complex in Louisiana is central to the company’s plan to build that Western supply chain, starting with the refining of mined product,” a recent article reads. “The overall state and local support we are receiving for the establishment of one of the first modern rare earth element processing facilities in North America has been an amazing experience… We are diligently working to execute a Louisiana project that has the potential to significantly enhance the manufacturing landscape across North America as the world shifts to electrification,” Ucore VP and COO Mike Schrider is quoted as saying.
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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 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. 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. For further information, please visit www.ucore.com/corporateupdate.
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