- Ucore Rare Metals (TSXV:UCU) signed a non-binding Heads of Agreement with Wyloo Gascoyne and Hastings Technology Metals to establish a path to market for rare earth concentrate sourced from the Yangibana project in Western Australia
- The project’s ratio of neodymium-praseodymium to total rare earth oxides stands at ~37 per cent, among the highest globally
- Ucore develops technology to extract, beneficiate and separate critical metals and rare earth elements
- Ucore stock has added 1,411.11 per cent year-over-year
Ucore Rare Metals (TSXV:UCU) signed a non-binding Heads of Agreement with Wyloo Gascoyne and Hastings Technology Metals to establish a path to market for rare earth concentrate sourced from the Yangibana project in Western Australia. The project’s ratio of neodymium-praseodymium to total rare earth oxides stands at ~37 per cent, among the highest globally.
The deal, set at an extendable 24-month term, will evaluate hydrometallurgical processing options in the United States, leveraging Ucore’s advanced operations in Louisiana, to advance North America’s shift away from Chinese supply in the wake of recently delayed export restrictions that sent the rare earth elements market into unprecedented uncertainty.
Ucore’s Louisiana processing facility is slated for commissioning in the second half of 2026, when it would become one of the first US operations capable of producing separated rare earth oxides at commercial scale. The company’s RapidSX separation technology has been shown to be three times more efficient than legacy methods while reducing both initial and operating capital expenditures.
The companies will sit down at the negotiating table, keen to work out a long-term offtake agreement up to 37,000 tons per year, as well as demonstrate the feasibility of a hydrometallurgical facility to convert rare earth concentrate into mixed rare earth carbonate suitable for downstream players in the magnet materials market.
The deal aligns with the United States-Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths, announced on October 20, 2025, which is designed to strengthen supply chains between the allied nations.
Management commentary
“This HoA represents another key step in building the mine-to-oxide pathway between allied nations,” Pat Ryan, Ucore’s chairman and chief executive officer, said in a statement. “By partnering with Wyloo and Hastings, we are securing potential feedstock for our Louisiana Strategic Metals Complex and exploring US hydromet options that add flexibility and scale to our DoD-backed RapidSX separation program.”
“Yangibana is one of the world’s most advanced, shovel-ready rare earth projects, with amongst the highest distributions of NdPr of any known deposit,” commented Geoff Atkins, Ucore’s vice president of business development. “This agreement is an important step in Ucore securing a fully aligned mine-to-oxide supply chain across trusted jurisdictions.”
“We are delighted to partner with Ucore on this strategically significant HoA,” added Vince Catania, CEO of Hastings Technology Metals. “This agreement represents a major step forward in de-risking the Yangibana project by securing a pathway to a long-term offtake partner in the key North American market. More importantly, the joint evaluation of a downstream hyrdromet plant in the US demonstrates the efforts by Wyloo, Ucore and Hastings to access the financing and commercial opportunities arising from the recently announced rare earth deal by the US and Australian governments to jointly support “ready to go” projects.”
About Ucore Rare Metals
Ucore develops technology to extract, beneficiate and separate critical metals and rare earth elements.
Ucore stock (TSXV:UCU) is up by 11.17 per cent on the news trading at C$8.16 as of 9:48 am ET. The stock has added 1,411.11 per cent year-over-year.
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