Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has officially commenced its USD$18.4 million Phase 2 Award, funded by the U.S. Department of Defense, to construct a commercial-scale RapidSX(TM) rare earth processing unit in Louisiana. This initiative is pivotal for processing heavy rare earth elements (HREEs), essential components in defense and advanced technology applications. The project builds on the foundation laid by a USD$4 million Phase 1 Award, with Ucore already achieving significant separation milestones and receiving over $3.35 million in funding to date.
The company is now focusing on near-term objectives, including the design of the facility and separation columns, aiming for the early production of marketable rare earth products. This development is a strategic move to bolster the domestic supply chain for rare earth elements, addressing growing geopolitical concerns over reliance on foreign sources. Ucore's efforts represent a critical step toward securing a stable and independent supply of these vital materials for the United States.
For further details on Ucore Rare Metals Inc.'s advancements and the significance of this project, visit https://ibn.fm/OqghK.
