UURAF - Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) CEO Addresses Critical Minerals Institute Summit II
- Ucore is engaged in the exploration for and separation and scalable production of REEs in Canada and the US
- Ucore Chairman and CEO Pat Ryan recently presented at the Critical Minerals Institute Summit II, where he discussed the risk mitigation strategies Western countries could execute to disrupt China’s dominance in the REE space
- On its part, and having identified has identified the need and demand for US-based REE refining and processing facilities, Ucore is working on developing, upscaling, and commercializing RapidSX(TM)
- RapidSX(TM) is the company’s transformative advanced column-based solvent extraction technique for separating both light and heavy REEs; it offers numerous benefits over the conventional solvent extraction technique
- Ucore is commissioning its 52-stage RapidSX(TM) Demonstration Plant in Kingston, Ontario
The government of China has consistently increased the total annual mining quota issued to producers of rare earth materials for the past five years: what started at 105,000 tons in 2017, doubled to 210,000 tons in 2022. Still, this uptrend shows no signs of easing, as country earlier this year set the first batch of rare-earth mining for 2023 at 120,000 tons, up by about 20% year-over-year (https://ibn.fm/uIRjY).
According to observers, this increase is due to the need to stabilize the prices of neodymium-iron-boron (“NdFeB”) permanent magnets amid an expected surge in demand as the country pushes for broader adoption of...
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at http://ibn.fm/UURAF
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