UURAF - MiningNewsBreaks - Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Eyeing Opportunity in Multibillion Rare Oxide Market
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a critical metals separation technology company executing an ESG-centered plan to establish a comprehensive North American critical metals supply chain, is gaining attention thanks to the commissioning of its demonstration plant in Kingston, Ontario. “The company is positioning itself to fulfill North America’s unmet rare earth element (‘REE’) and rare earth oxide (‘REO’) needs through commercial production plants, with the first expected to be operational by the end of 2024 in Louisiana… Over the last few years, Ucore has invested about $10 million in the demonstration plant and its RapidSX(TM) technology. RapidSX(TM) is a westernized form of solvent extraction using fewer chemicals, quicker throughput, less capital expenditure and better operational expenditure,” a recent article reads. “Ucore CEO Pat Ryan stated that the individual rare oxide market is expected to reach $32 billion by the decade’s end, with approximately $16 billion belonging to the ex-China market. Ucore is targeting 20% of that market, with the commercial plant in Louisiana expected to take on one-third of that capacity. Additionally, Ucore plans to engineer a second and third commercial plant to handle the remaining capacity in the future.”
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About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal separation technologies targeting production, scalability and growth. Ucore’s vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the nascent North American rare earth element supply chain. This plan includes the near-term development of a heavy and light rare-earth processing facility in Louisiana, with subsequent facilities in Canada, Alaska and the longer-term development of Ucore’s heavy-rare-earth-element mineral-resource property at Bokan Mountain on Prince of Wales Island, Alaska. Ucore is listed on the TSXV under the trading symbol UCU and in the United States on the OTC Markets’ OTCQX(R) Best Market under the ticker symbol UURAF. For further information, please visit https://ucore.com/corporateupdate.
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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