Ucore Rare Metals Inc. has signed a non-binding letter of intent with Critical Metals Corp. to secure up to 10,000 metric tons of heavy rare earth concentrate annually starting in 2027, establishing a potential decade-long supply agreement from Greenland's Tanbreez project. This agreement anchors reliable feedstock for Ucore's Department of Defense-supported Louisiana facility, which is being designed as a first-of-its-kind rare earth separation plant capable of processing both light and heavy rare earths at commercial scale.
The timing of this agreement is particularly significant given the surging demand for rare earths globally, with Greenland's Tanbreez Project recognized as one of the world's largest undeveloped rare earth resources. The project hosts a massive deposit of eudialyte rich in heavy rare earth elements, positioning it as a critical source for North American supply chain development. Louisiana's strategic positioning as an industrial gateway further enhances the importance of this supply agreement.
This decade-long supply agreement linking Greenland's vast rare earth deposits with Louisiana's growing role as a U.S. processing hub is poised to shift the balance of critical mineral independence in North America. The agreement underscores Ucore's mission to build a fully integrated, North American supply chain for the technologies that will power the clean energy future and strengthen national security. The Louisiana facility details can be found at https://ibn.fm/Ufn3x.
The latest news and updates relating to Ucore Rare Metals Inc. are available in the company's newsroom at https://ibn.fm/UURAF. This development represents a significant step toward reducing North America's dependence on foreign rare earth supplies, particularly from China, which currently dominates the global market. The ability to process both light and heavy rare earths domestically enhances supply chain security for technologies ranging from electric vehicles and wind turbines to defense systems.
