- Ucore has set out to capitalize on critical mid-market separation of REE through its transformative RapidSX(TM) technology in a bid to address China’s dominance in the rare oxide market
- The company is confident in its approach and has even committed to investing $75 million in CapEx over the next four years to establish North America’s first modern REE separation and purification facility
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a critical metals (“CM”) separation technology company, understands the potential of the rare oxide market and the stake that China currently holds. According to CEO Pat Ryan, this industry is expected to reach $32 billion by the decade’s end. However, with China controlling 90% of this sector, there has been a push by other countries to cut down dependence and seek out alternatives which, in turn, do away with the risks associated with China’s dominance (https://ibn.fm/WdTPC).
Ucore has stepped up, ultimately playing an integral role in establishing a comprehensive North American critical metals supply chain. Through its transformative technology, RapidSX(TM), the company has been able to capitalize on critical mid-market separation of rare earth elements (“REE”) or its lack thereof. In addition, having streamlined its process of arranging work relationships upstream and dealing with downstream customers, the company has managed to carve out a decent market share for itself, with the goal of taking up 20% of the ex-China rare oxide market in the coming years (https://ibn.fm/a9FqJ).
The company is confident in its approach and has even committed to investing $75 million in capital expenditure (“CapEx”) over the next four years to establish North America’s first modern REE separation and purification facility. Located in England Airpark Community in Alexandria, Louisiana, this facility will create at least 100 family-wage paying jobs and improve business opportunities for the area (https://ibn.fm/SFRXK). The investment will build on the $10 million already invested in Ucore’s demonstration plant in Kingston, Ontario, with additional plans to engineer a second and third commercial plant to handle all the expected capacity.
Ucore is positioning itself to fulfill North America’s unmet REE needs through commercial production plants. It is doing what its competitors have not, thereby defining the industry and positioning itself as an undisputed market leader. As it continues to carve out its market share, Ucore is placing North America on the map, defining its REE self-reliance, and creating employment and business opportunities while at it.
For more information, visit the company’s website at www.Ucore.com.
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://ibn.fm/UURAF
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