NetworkNewsBreaks – Ucore Rare Metals Inc. (TSXV
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Posted On: 06/02/2025 4:25:59 PM
NetworkNewsBreaks – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) Secures Definitive $18.4M DoD Award to Build First Commercial RapidSX(TM) System
Ucore Rare Metals (TSXV: UCU) (OTCQX: UURAF) has finalized the contract for an $18.4 million award from the U.S. Department of Defense to construct its first commercial-scale RapidSX(TM) rare earth separation system and infrastructure at the Strategic Metals Complex (SMC) in Alexandria, Louisiana. This brings total non-repayable funding under Ucore’s existing OT Agreement to $22.4 million. The funds will support engineering, permitting, and construction of a RapidSX(TM) machine and supporting systems capable of processing individual rare earth oxides starting in the second half of 2026. A groundbreaking ceremony was held May 29 with local, state, and federal leaders in attendance. The facility is located in a Foreign Trade Zone, providing logistical and tax advantages. Ucore also continues to receive support from Canadian federal and provincial programs, advancing its goal to establish a domestic supply chain for critical minerals.
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://nnw.fm/UURAF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Ucore Rare Metals (TSXV: UCU) (OTCQX: UURAF) has finalized the contract for an $18.4 million award from the U.S. Department of Defense to construct its first commercial-scale RapidSX(TM) rare earth separation system and infrastructure at the Strategic Metals Complex (SMC) in Alexandria, Louisiana. This brings total non-repayable funding under Ucore’s existing OT Agreement to $22.4 million. The funds will support engineering, permitting, and construction of a RapidSX(TM) machine and supporting systems capable of processing individual rare earth oxides starting in the second half of 2026. A groundbreaking ceremony was held May 29 with local, state, and federal leaders in attendance. The facility is located in a Foreign Trade Zone, providing logistical and tax advantages. Ucore also continues to receive support from Canadian federal and provincial programs, advancing its goal to establish a domestic supply chain for critical minerals.
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://nnw.fm/UURAF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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