NetworkNewsBreaks – Ucore Rare Metals Inc. (TSX.
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Posted On: 06/16/2023 5:05:59 PM
NetworkNewsBreaks – Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Accelerates Efforts to Establish North American REE Supply Chain
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a critical metals production innovator, is accelerating its efforts to establish a North American-focused supply chain for rare earth elements (“REEs”). The company announced in April that it had reached an agreement to lease an 80,800 square-foot brownfield facility in Alexandria, Louisiana, for its first Strategic Metals Complex (‘SMC’) facility for REE separation and oxide production. “The company has strengthened its financial position and is working to fulfill plans to launch construction of the Louisiana SMC this year, building to a production capacity of 2,000 metric tons of total rare earth oxides in 2024 and increasing it to 5,000 metric tons in 2026. Rare earths are vital to many computerized application processes and, though plentiful around the world, tend to make up a small portion of the ores they are found in, requiring a labor-intensive methodology for extracting the REEs,” a recent article reads. “It is critical that the United States leads in establishing the critical metals supply chain essential to a changing manufacturing landscape across North America,” Ucore CEO and Chairman Pat Ryan is quoted as saying. “The establishment of the Louisiana SMC in Alexandria represents one of these first building blocks and a significant contributor to the shift toward energy production and consumption diversification.”
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Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a critical metals production innovator, is accelerating its efforts to establish a North American-focused supply chain for rare earth elements (“REEs”). The company announced in April that it had reached an agreement to lease an 80,800 square-foot brownfield facility in Alexandria, Louisiana, for its first Strategic Metals Complex (‘SMC’) facility for REE separation and oxide production. “The company has strengthened its financial position and is working to fulfill plans to launch construction of the Louisiana SMC this year, building to a production capacity of 2,000 metric tons of total rare earth oxides in 2024 and increasing it to 5,000 metric tons in 2026. Rare earths are vital to many computerized application processes and, though plentiful around the world, tend to make up a small portion of the ores they are found in, requiring a labor-intensive methodology for extracting the REEs,” a recent article reads. “It is critical that the United States leads in establishing the critical metals supply chain essential to a changing manufacturing landscape across North America,” Ucore CEO and Chairman Pat Ryan is quoted as saying. “The establishment of the Louisiana SMC in Alexandria represents one of these first building blocks and a significant contributor to the shift toward energy production and consumption diversification.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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