- Innovation Metals, a subsidiary of Ucore Rare Metals Inc. (UCU), has entered into a technology testing agreement with a rare earth elements (REE) mining company to test Innovation’s proprietary RapidSX technology
- RapidSX is designed for use in the separation and production of mixed rare earth element concentrate
- The company expects the technology to be ready for commercial adoption and implementation in the second quarter of 2022
- Ucore Rare Metals Inc. is focused on the extraction, beneficiation, and separation of rare and critical metals resources through various technologies
- Ucore Rare Metals Inc. (UCU) is up 3.97 per cent and is currently trading at $1.31 per share
Ucore Rare Metals (UCU) subsidiary Innovation Metals is partnering with a rare earth elements (REE) mining company to test Innovation’s RapidSX technology.
Pursuant to the terms of the agreement, the name of the mining company, which is located in a United States-allied country, will remain confidential.
RapidSX is designed for use in the separation and production of mixed rare earth element concentrate. It will have the ability to be integrated into and customized for REE production facilities.
The technology combines the chemistry of conventional SX with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs.
Innovation Metals developed RapidSX with the assistance of US$1.8 million in funding from the United States Department of Defense.
The company will complete testing in partnership with the mining company that will generate empirical data which can be evaluated and used to further develop the technology.
Innovation Metals expects the RapidSX technology to be ready for commercial adoption and implementation in approximately 12 months, in the second quarter of 2022.
Ucore Rare Metals Inc. is focused on the extraction, beneficiation, and separation of rare and critical metals resources through various technologies.
The company’s vision is to become a leading advanced technology company that provides metal separation products and services to the mining and mineral extraction industry.
Ucore Rare Metals Inc. (UCU) is up 3.97 per cent and is trading at $1.31 per share as of 11:15 am ET.