- Despite the critical importance of rare earth element metals, the United States has long been dependent on imports to provide an adequate supply.
- Ucore has secured a $18.4 million funding agreement from the U.S. DoD to support the development of its rare earth processing facility in Louisiana.
- Ucore CEO notes that the funding validates the company’s technological leadership, underscores the strategic value of domestic REE processing.
As global competition intensifies over the control and supply of critical minerals, the United States is taking aggressive steps to secure domestic sources of rare earth elements (“REEs”)—materials essential for defense systems, electronics and clean energy. A recent announcement from Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) highlights a significant milestone in this effort. The company has secured a $18.4 million funding agreement from the U.S. Department of Defense (“DoD”) to support the development of Ucore’s rare earth processing facility in Louisiana. The project represents a major step toward American independence in the global REE supply chain, which is currently dominated by China.
Rare earth elements are indispensable to modern technology. From fighter jets and guided missile systems to electric vehicles and smartphones, these materials form the backbone of numerous advanced applications. Despite the critical importance of these metals, the United States has long been dependent…
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://ibn.fm/UURAF
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