- Ucore, a company engaged in the exploration for and separation and scalable production of REEs in Canada and the US, is in the process of perfecting and ultimately commercializing the separation and purification of critical metals
- This is in a move to slash reliance on Chinese rare earths technologies and its toxic by-products
- The company has made incredible headway over the years and is on track to commercially separate U.S.-friendly sources of REES, using its RapidSX(TM) technology, by 2025
- The commissioning of its RapidSX Demonstration plant in Kingston, Ontario, earlier this year affirms its commitment to actualizing the goal of re-establishing a North American rare earths supply chain
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a company engaged in the exploration for and separation and scalable production of rare earth elements (“REEs”) in Canada and the U.S., understands the current state of the rare earths market, currently dominated by China. As a nation that has spent 30 years mastering solvent extraction, China has gotten the upper hand in the industry, leaving the West playing catch up in what appears to be a challenging position for players therein. Ucore, however, is seen as being ahead of the game, through having developed a more efficient processing technology for extracting REE products (https://ibn.fm/g4S5L).
Through its RapidSX(TM) technology, the company is perfecting and ultimately commercializing the separation and purification of critical metals, a move that would slash reliance on Chinese rare earths technologies and its toxic by-products. More importantly, it would add to the commercial viability of Western rare earths, allowing companies in this region to charge premium prices for the strategic minerals, thereby boosting the economy and allowing for the growth of various industries while at it.
“Our goal is to re-establish a North American rare earths supply chain,” noted Michael Schrider, Ucore’s COO.
Recently, China announced controls on reporting exports for REEs used strategically for permanent magnets in computerized products. This is the latest in an ongoing trade war between China and the U.S., which only puts more pressure on Western countries and their independence from China-based supply chains (https://ibn.fm/1s2HH). With the country controlling 60% of mined REE resources globally, Western nations are under a lot of stress, with their only hope being enterprises such as Ucore refining their processes and cutting off this dependence on China.
Ucore has since made incredible headway over the years, made possible by the funding from the Pentagon. The company is on track to commercially separate friendly sources of REEs and supply OEMs with rare earth oxides (“REOs”) required to produce rare earth permanent magnets (“REPMs”) by 2025. This will help grow the electric vehicle industry, generators, and even computers, all in response to the global transition to electrification and sustainable energy sources.
“This entire sector as a whole needs to grow outside of China in order to support the energy transition,” noted Mike Crabtree, CEO of the Saskatchewan Research Council (“SRC”).
Earlier this year, the company began commissioning its RapidSX Demonstration plant in Kingston, Ontario, a facility designed to demonstrate the commercial capabilities of the technology platform. The plant, located in Ucore’s 5,000-square-foot RapidSX Commercialization and Demonstration Facility, will be integral in actualizing the company’s goal of re-establishing a North American rare earths supply chain. It also affirms the company’s commitment to creating shareholder value, all while stamping its position as a leader in its segment.
For more information, visit the company’s website at www.Ucore.com.
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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