Great news for UURAF / UCU.V
Ucore and thyssenkrupp Materials Trading Execute Feedstock Supply MOU for the Alaska SMC
V.UCU | 8 hours ago
Highlights
Ucore is developing the Alaska Strategic Metals Complex (SMC) for the processing of rare earth elements in Southeast Alaska
thyssenkrupp Materials Trading GmbH has extensive spot supply and offtake arrangements with existing and developing producers of rare earth concentrate, carbonates, and oxides
The Alaska SMC is planned to commence production of up to 2,000 tpa of individual rare earth oxides by 2024
thyssenkrupp Materials Trading is expected to begin the supply of a minimum of 1,000 tpa of rare earth carbonate to Ucore in 2024 for ten years
The MOU represents the second source of feedstock for the Alaska SMC, in addition to the agreement executed with Vital Metals in October of 2021
Halifax, Nova Scotia--(Newsfile Corp. - April 20, 2022) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (FSE: U9UA) ("Ucore" or the "Company"
is pleased to announce the execution of a Memorandum Of Understanding ("MOU" setting forth certain nonbinding understandings between Ucore and thyssenkrupp Materials Trading GmbH (collectively the "Parties". The MOU contemplates thyssenkrupp Materials Trading initially supplying a minimum of 1,000 tons per annum ("tpa" of mixed rare earth carbonate for processing at Ucore's Alaska Strategic Metals Complex ("SMC" in 2024, with quantities increasing in subsequent years. The parties have agreed to work toward a 10-year binding contract for the continued and increasing supply of mixed rare earth carbonates ("MREC" for processing, including the consideration of various marketing strategies.
thyssenkrupp Materials Trading, a German based company belonging to thyssenkrupp Materials Services, is engaged in international commodity and special materials trading. The company intends to act as a long-term supplier for Ucore's North American rare earth element ("REE" supply chain developments. They may first provide MREC feedstock for the commercial demonstration phase of the RapidSX™ REE separation technology platform (see Ucore's December 29, 2021 news release) in Kingston, Ontario (including Alaska SMC engineering feedstock trials). They will culminate in supplying feedstock for commercial production at the Alaska SMC. thyssenkrupp Materials Trading has established relationships and agreements with numerous existing and developing MREC feedstock sources on a spot basis and/or through the company's existing 3rd-party offtake agreements.
Ucore is developing the Alaska SMC as its first planned SMC in North America and the initial component of the Bokan-Dotson Ridge REE Project ("Bokan". The Alaska SMC will be initially designed to produce up to 2,000 tpa of individual rare earth oxides ("REOs", expandable to over 5,000 tpa by 2026. The underlying technology for all planned SMCs is the RapidSX™ REE separation technology platform, and Mech-Chem Associates, Inc. of Norfolk, Massachusetts, is leading the integration engineering for facility construction.
"thyssenkrupp Materials Trading is a stalwart in the global critical metals industry and the perfect prospective partner for Ucore's development of an independent rare earth supply chain in North America," said Pat Ryan, P.Eng., Ucore Chairman and CEO. "The execution of this MOU, effective January 20, 2022, ensures that Ucore will have diverse sources of feedstock for the Alaska SMC, increasing our security of supply. Additionally, it allows the Parties to consider various forms of a contractual supply and marketing relationship as Ucore continues to develop and secure aspects of its envisioned REE supply chain, and as thyssenkrupp further strengthens its position as a worldwide critical materials acquisition leader."
Wolfgang Schnittker, CEO of thyssenkrupp Materials Trading, declares, "the partnership with Ucore underlines the consistent expansion of our sales activities in the global distribution of rare earth products, which is possible because of our strong and broad supplier base. Together with our partner, we now have the opportunity to significantly contribute to the establishment of a strategically important and reliable supply chain of rare earth products in North America through the supply of high-quality carbonate."
thyssenkrupp Materials Trading is an international trading and services company headquartered in Essen, Germany. Its product range includes raw materials such as alloys, nonferrous metals, minerals, coke, coal and ores, various raw materials for future technologies, metallurgical products such as steel and pipes, pipe accessories, finished steel and stainless steel, as well as trading with new and used industrial equipment, machine tools, spare parts, and structural elements for hydraulic steel engineering and the offshore sector, plus materials and logistics services of all kinds. The range is rounded out by tailored offers, including financing and shipment.
# # #
About thyssenkrupp Materials Services
thyssenkrupp Materials Services is the biggest mill-independent materials distributor and service provider in the Western world with around 380 locations - including around 260 warehouse sites - in more than 30 countries. The versatile range of services offered by the materials experts allows customers to focus even more strongly on their individual core businesses. As part of its strategic further development, "Materials as a Service," the company is focusing on the supply of raw materials and materials as well as products and services in the area of supply chain management. Digital solutions ensure efficient and resource-saving processes for customers and thus provide the basis for sustainable action. From 2030 Materials Services will operate on a climate-neutral basis.
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has a 100% ownership stake in the Bokan-Dotson Ridge Rare-Earth Element Project in Southeast Alaska, USA. The Company's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements jmho
Ucore and thyssenkrupp Materials Trading Execute Feedstock Supply MOU for the Alaska SMC
V.UCU | 8 hours ago
Highlights
Ucore is developing the Alaska Strategic Metals Complex (SMC) for the processing of rare earth elements in Southeast Alaska
thyssenkrupp Materials Trading GmbH has extensive spot supply and offtake arrangements with existing and developing producers of rare earth concentrate, carbonates, and oxides
The Alaska SMC is planned to commence production of up to 2,000 tpa of individual rare earth oxides by 2024
thyssenkrupp Materials Trading is expected to begin the supply of a minimum of 1,000 tpa of rare earth carbonate to Ucore in 2024 for ten years
The MOU represents the second source of feedstock for the Alaska SMC, in addition to the agreement executed with Vital Metals in October of 2021
Halifax, Nova Scotia--(Newsfile Corp. - April 20, 2022) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (FSE: U9UA) ("Ucore" or the "Company"
is pleased to announce the execution of a Memorandum Of Understanding ("MOU" setting forth certain nonbinding understandings between Ucore and thyssenkrupp Materials Trading GmbH (collectively the "Parties". The MOU contemplates thyssenkrupp Materials Trading initially supplying a minimum of 1,000 tons per annum ("tpa" of mixed rare earth carbonate for processing at Ucore's Alaska Strategic Metals Complex ("SMC" in 2024, with quantities increasing in subsequent years. The parties have agreed to work toward a 10-year binding contract for the continued and increasing supply of mixed rare earth carbonates ("MREC" for processing, including the consideration of various marketing strategies. thyssenkrupp Materials Trading, a German based company belonging to thyssenkrupp Materials Services, is engaged in international commodity and special materials trading. The company intends to act as a long-term supplier for Ucore's North American rare earth element ("REE"
supply chain developments. They may first provide MREC feedstock for the commercial demonstration phase of the RapidSX™ REE separation technology platform (see Ucore's December 29, 2021 news release) in Kingston, Ontario (including Alaska SMC engineering feedstock trials). They will culminate in supplying feedstock for commercial production at the Alaska SMC. thyssenkrupp Materials Trading has established relationships and agreements with numerous existing and developing MREC feedstock sources on a spot basis and/or through the company's existing 3rd-party offtake agreements. Ucore is developing the Alaska SMC as its first planned SMC in North America and the initial component of the Bokan-Dotson Ridge REE Project ("Bokan"
. The Alaska SMC will be initially designed to produce up to 2,000 tpa of individual rare earth oxides ("REOs", expandable to over 5,000 tpa by 2026. The underlying technology for all planned SMCs is the RapidSX™ REE separation technology platform, and Mech-Chem Associates, Inc. of Norfolk, Massachusetts, is leading the integration engineering for facility construction. "thyssenkrupp Materials Trading is a stalwart in the global critical metals industry and the perfect prospective partner for Ucore's development of an independent rare earth supply chain in North America," said Pat Ryan, P.Eng., Ucore Chairman and CEO. "The execution of this MOU, effective January 20, 2022, ensures that Ucore will have diverse sources of feedstock for the Alaska SMC, increasing our security of supply. Additionally, it allows the Parties to consider various forms of a contractual supply and marketing relationship as Ucore continues to develop and secure aspects of its envisioned REE supply chain, and as thyssenkrupp further strengthens its position as a worldwide critical materials acquisition leader."
Wolfgang Schnittker, CEO of thyssenkrupp Materials Trading, declares, "the partnership with Ucore underlines the consistent expansion of our sales activities in the global distribution of rare earth products, which is possible because of our strong and broad supplier base. Together with our partner, we now have the opportunity to significantly contribute to the establishment of a strategically important and reliable supply chain of rare earth products in North America through the supply of high-quality carbonate."
thyssenkrupp Materials Trading is an international trading and services company headquartered in Essen, Germany. Its product range includes raw materials such as alloys, nonferrous metals, minerals, coke, coal and ores, various raw materials for future technologies, metallurgical products such as steel and pipes, pipe accessories, finished steel and stainless steel, as well as trading with new and used industrial equipment, machine tools, spare parts, and structural elements for hydraulic steel engineering and the offshore sector, plus materials and logistics services of all kinds. The range is rounded out by tailored offers, including financing and shipment.
# # #
About thyssenkrupp Materials Services
thyssenkrupp Materials Services is the biggest mill-independent materials distributor and service provider in the Western world with around 380 locations - including around 260 warehouse sites - in more than 30 countries. The versatile range of services offered by the materials experts allows customers to focus even more strongly on their individual core businesses. As part of its strategic further development, "Materials as a Service," the company is focusing on the supply of raw materials and materials as well as products and services in the area of supply chain management. Digital solutions ensure efficient and resource-saving processes for customers and thus provide the basis for sustainable action. From 2030 Materials Services will operate on a climate-neutral basis.
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has a 100% ownership stake in the Bokan-Dotson Ridge Rare-Earth Element Project in Southeast Alaska, USA. The Company's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements jmho
