UURAF - Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Looking to Bolster North American REE Dominance Amid China's Move to Ban Rare Earth Metal Exports
- Nikkei Asia has reported plans for China to amend its 2020 technology export restriction list with propositions to either ban or restrict exports of technology to process and refine rare earth elements
- These developments have encouraged both Washington and Tokyo to develop rare earth supply chains with little to no dependence on China
- Ucore has long been focused on growing North America’s REE self-reliance in response to these developments, and its recent announcement of a $75 million investment in capital expenditures (CapEx) over the next four years points to a company committed to helping North America achieve full autonomy and independence in this sector
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a critical metals (“CM”) separation technology company, is eyeing new opportunities, mainly stemming from recent developments in China that could see the country ban rare earth metal exports. In a move that seeks to reduce the over-reliance on China for its rare earth elements (“REE”) imports, the company is looking to develop and scale its North American facilities, as evidenced by recent investments in this area. By doing so, it hopes to reduce the vulnerability of North American companies reliant on these elements.
In 2020, China updated its technology export restriction list, which proposed either a ban or restriction of exports of technology to process and refine rare earth elements. In what can be described as an interesting...
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