UURAF - Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) to Invest $75 Million to Establish North America's First Modern Technology REE Separation And Purification Facility in Alexandria Louisiana
- Ucore recently announced it is investing $75 million over the next four years to set up the Louisiana Strategic Metals Complex (“LSMC”) REE separation and oxide production facility
- The facility will cover a footprint of 80,800 square feet and will be located within the England Airpark Community complex in Alexandria, Louisiana
- Ucore expects to produce 7,500 tons per annum of total rare earth oxide (“TREO”) throughput and create 100 family-wage paying jobs
- The facility is one of three strategic metals complexes that Ucore plans to set up across North America as part of efforts to help the continent take charge of REEs and other critical elements that are necessary as the world introduces electric vehicles and electrification
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a company engaged in the exploration for and separation and scalable production of rare earth elements (“REEs”) in Canada and the United States, recently announced it is investing $75 million in capital expenditure (“CapEx”) over the next four years to establish North America’s first modern technology REE separation and purification facility at the England Airpark Community in Alexandria, Louisiana. The investment will result in the establishment of the Louisiana Strategic Metals Complex (“LSMC”) REE separation and oxide production facility, whose construction is scheduled to begin this year. Once completed, the facility will create 100 family-wage paying jobs (by 2027).
“This project has been a year in the making from an economic development standpoint,” company Chairman and CEO Pat Ryan, P.Eng., said in his opening remarks during an in-person meeting where the company made...
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