- Ucore Rare Metals (TSXV:UCU) has acknowledged the recent joint announcement by China’s Ministry of Commerce and the General Administration of Customs regarding export restrictions on critical rare earth elements
- China’s decision to implement these export controls is a sign of the critical importance of establishing a secure and independent rare earth supply chain in North America according to the company
- Ucore is currently processing heavy rare earth elements at its RapidSX Commercial Demonstration Plant in Kingston, Ontario, under a US$4 million contract with the US Department of Defense.
- Ucore Rare Metals Inc. stock (TSXV:UCU) last traded at C$1.06
Ucore Rare Metals (TSXV:UCU) has acknowledged the recent joint announcement by China’s Ministry of Commerce and the General Administration of Customs regarding export restrictions on critical rare earth elements, effective April 4th, 2025.
As reported by multiple news sources, the export restrictions, applicable to all countries, include seven key medium and heavy rare earth elements: samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium. China’s decision to implement these export controls speak to the critical importance of establishing a secure and independent rare earth supply chain in North America, according to the company. Ucore stated that the team will remain steadfast in its commitment to mitigating supply chain vulnerabilities through the development and commercialization of its proprietary RapidSX rare earth element refining technology.
“China’s recent announcement highlights the urgent need for a robust and independent rare earth supply chain in North America,” Ucore’s Chairman and CEO, Pat Ryan said in a news release. “Ucore’s RapidSX technology offers a transformative solution to this challenge, and we are committed to advancing our strategic initiatives to ensure a stable and secure supply of critical rare earth elements.”
Ucore pointed to its string of initiatives:
U.S. Department of Defense collaboration: Ucore is currently processing heavy rare earth elements at its RapidSX Commercial Demonstration Plant in Kingston, Ontario, under a US$4 million contract with the US Department of Defense. The Demonstration Plant was constructed to showcase the RapidSX technology at commercial scale.
Louisiana Strategic Metals Complex (SMC): Ucore is progressing with the development of the Louisiana SMC in Alexandria, Louisiana. This facility is designed to process both heavy and light mixed rare earth chemical concentrates, thereby reducing North America’s reliance on foreign sources.
Government support: Ucore has secured a US$4.28 million funding agreement from the Government of Canada to demonstrate the commercial efficacy of the RapidSX technology. This funding supports the production of high-purity rare earth elements from Canadian and U.S. feedstock sources. Ucore has also executed a non-binding Letter of Intent with the State of Louisiana for state grants, tax incentives, payroll rebates, and other incentives valued at approximately US$15 million.
On March 20th, 2025, President Trump invoked wartime powers under the Defense Production Act to address threats to America’s national and economic security due to reliance on “hostile foreign powers’ mineral production”. The Executive Order outlines initiatives to “facilitate domestic mineral production to the maximum extent possible” and aims at the production of critical minerals, including rare earth elements.
About Ucore
Ucore is a specialist in rare- and critical-metal resource extraction, beneficiation and separation technologies with the potential for production, growth and scalability. The company is focused on disrupting China’s control of the North American REE supply chain by establishing heavy and light REE processing facilities in the United States and Canada.
Ucore Rare Metals Inc. stock (TSXV:UCU) last traded at C$1.06 and has risen 39.47 per cent since this time last year.
Join the discussion: Find out what everybody’s saying about this rare earths stock on the Ucore Rare Metals Inc. Bullboard and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top photo via Ucore Rare Metals Inc.)
