FP/wire say Ucore aims for rare earth production i
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Posted On: 07/17/2025 9:35:52 AM
FP/wire say Ucore aims for rare earth production in May UCU.V / UURAF
2025-07-17 09:18 ET - In the News
The Financial Post reports in its Thursday edition that Ucore Rare Metals aims to start producing rare earth elements at a new Louisiana facility next May, boosting U.S. processing capacity in an industry that is currently dominated by China. A Bloomberg dispatch to the Post says the move comes as the Trump administration ramps up efforts to increase domestic production of rare earths, which are strategically vital for weapons and other high-tech applications. The company is transforming an 80,000-square-foot building on a former Air Force base into an $80-million (U.S.) plant for rare earth magnet materials. Ucore has been able to move ahead with processing at a bigger scale after securing a site designated as a foreign trade zone. Such zones allow companies to delay or reduce duty payments, and enable duty-free treatment on re-exported goods. "You can bring inputs from Brazil, you can process the material and send it back to Japan for magnet making and there's no tariff consequence coming in, coming out," said chief executive officer Pat Ryan. Ucore received $18.4-million (U.S.) from the Defense Department for the first of four phases of construction. Full capacity at the plan by 2027 is expected to be 12,000 tons.
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jmho
2025-07-17 09:18 ET - In the News
The Financial Post reports in its Thursday edition that Ucore Rare Metals aims to start producing rare earth elements at a new Louisiana facility next May, boosting U.S. processing capacity in an industry that is currently dominated by China. A Bloomberg dispatch to the Post says the move comes as the Trump administration ramps up efforts to increase domestic production of rare earths, which are strategically vital for weapons and other high-tech applications. The company is transforming an 80,000-square-foot building on a former Air Force base into an $80-million (U.S.) plant for rare earth magnet materials. Ucore has been able to move ahead with processing at a bigger scale after securing a site designated as a foreign trade zone. Such zones allow companies to delay or reduce duty payments, and enable duty-free treatment on re-exported goods. "You can bring inputs from Brazil, you can process the material and send it back to Japan for magnet making and there's no tariff consequence coming in, coming out," said chief executive officer Pat Ryan. Ucore received $18.4-million (U.S.) from the Defense Department for the first of four phases of construction. Full capacity at the plan by 2027 is expected to be 12,000 tons.
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