- Ucore, a company engaged in the exploration for and separation and scalable production of REEs in Canada and the US, views China’s recent ban on the export of technology to produce rare earth permanent magnets as an opportunity
- Through this ban, the company looks to grow and assert its dominance in the sector, all while doing away with dependence on China
- This is made possible by its RapidSX(TM) technology, which it has been slowly perfecting
- It is also made possible by its Demonstration Program, along with its Louisianna facility that sets it on track to separating friendly REEs and OEMs by 2025
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), engaged in the exploration for and separation and scalable production of rare earth elements (“REEs”) in Canada and the U.S., is looking to double down on its unique method of separation and refining of rare earth elements, an approach that it is confident will assert its market dominance, and stamp its position as an industry leader. This comes in the wake of China announcing a ban on the export of technology to produce rare earth permanent magnets, along with the ban on technology associated with the separation of REEs in what experts in the field have termed as an “REE race” (https://ibn.fm/ehEYY).
On December 21, 2023, China announced that it had banned all exports of technology to produce rare earth permanent magnets, citing national security concerns. It also confirmed the existing ban on technology associated with separating REEs. This followed the introduction of export permits for chipmaking materials – gallium and germanium – back in August, followed by similar requirements for other types of graphite in December 2023. The move was considered a wake-up call for the West and their dependence on China for the rare earth’s supply.
“This should be a clarion call that dependence on China in any part of the value chain is not sustainable,” noted Nathan Picarsic, the co-founder of Horizon Advisory, a geopolitical consulting firm.
Ucore views this as an opportunity to grow and assert its dominance in the sector. Its management has referred to these events as “remarkable,” coming just in time given its recent commencement of the U.S. Department of Defense (“DoD”) Demonstration Program.
“Ucore’s focus on the separation and refining of these critical materials is of increasing strategic importance to the burgeoning North American rare earth supply chain,” noted Pat Ryan, Ucore’s Chairman and CEO.
“Our recently commenced US DoD Demonstration Program could not come at a more important time,” he added (https://ibn.fm/P1XBU).
Ucore has been committed to and vocal about developing its technology and weakening China’s mineral dominance using its RapidSX(TM) technology. It is slowly perfecting and ultimately commercializing the separation and purification of critical metals in a significant move that would slash reliance on China, which currently controls 90% of refined rare earth output. Its focus over the years has been on perfecting its process, all while re-establishing a North American supply chain.
“Our goal is to re-establish a North American rare earths supply chain,” noted Michael Schrider, Ucore’s COO (https://ibn.fm/edOli).
The recent developments in China point to how integral Ucore’s initiatives are, not just for North America but for the West as a whole. Having made incredible headway over the years, it is also a beacon of hope and a trailblazer in an industry dominated by Chinese players. Already, the company is on track to commercially separate friendly sources of REEs and OEMs with rare earth oxides (“REOs”) required to produce rare earth magnets by 2025. This will be made possible by its Demonstration Program and Alexandria, Louisiana facility, with an estimated throughput of 7,500 tons of total rare earth oxides per annum.
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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