- Ucore Rare Metals (TSXV:UCU) notes that its operations remain unaffected by China’s expanded export controls on rare earth elements, with foreign companies now required to hold a license to use Chinese refining technology and related equipment
- Ucore develops technology to extract, beneficiate and separate rare and critical metals
- Ucore stock has added 1,450.94 per cent year-over-year
Ucore Rare Metals (TSXV:UCU), a US-based specialist in the extraction of rare and critical metals, notes that its operations remain unaffected by China’s expanded export controls on rare earth elements, with foreign companies now required to hold a license to use Chinese refining technology and related equipment.
According to Friday’s news release, the company has neither the need nor the intention to use equipment sourced from China as it advances rare earth separation operations in the state of Louisiana.
Ucore’s first Strategic Metals Complex in the state, positioned to be the US’s first modern rare earths commercial separation facility, relies only on North American and allied-nation suppliers, and is protected by Defense Priorities & Allocations System Status, allowing purchase orders to be prioritized to safeguard national security.
The facility will produce 2,000 tons of rare earth oxides per year by 2026 and 5,000 tons by 2027 deploying Ucore’s RapidSX separation technology, which uses 70 per cent less floor space and offers significant reductions in capital and operating expenditures compared to conventional solvent extraction, while achieving 3-7x faster throughput, granting it a seat at the table when it comes to garnering market share in the multi-billion-dollar global rare earths market.
Management expects to deliver a feasibility study for the Louisiana Strategic Metals Complex over the near term, setting the stage for subsequent facilities in Alaska and Canada.
Management commentary
“Today’s expansion of Chinese export controls underscores why Ucore built its plan around North American and allied supply chains from day one,” Pat Ryan, chairman and chief executive officer of Ucore Rare Metals, said in a statement. “Our RapidSX refining technology not only produces the same rare earth products, at the same quality, as legacy solvent extraction, but does so with a faster throughput in a much reduced floorspace, resulting in a number of economic and environmental advantages. The majority of the components required for the RapidSX technology, including positive displacement pumps, columns, control valves and piping, are sourced from well-established North American industrial supply chains. Automation of the system is achieved with PLC’s and industrial-grade computers that are sourced within the United States.”
About Ucore Rare Metals
Ucore develops technology to extract, beneficiate and separate rare and critical metals.
Ucore stock (TSXV:UCU) is up by 6.61 per cent trading at C$8.22 as of 9:36 am ET. The stock has added 1,450.94 per cent year-over-year.
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