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Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Celebrates Canada’s Decision to Add $4.28 Million in Funding to REE Separation Tech Development

  • Canada-based strategic metals innovator Ucore Rare Metals Inc. recently received word that the Canadian government will provide $4.28 million in non-dilutive, non-repayable funding to the company’s ongoing rare earth element (“REE”) separation technology development
  • REEs are critical to the production of permanent magnets used in computerized technologies ranging from cell phones to national interests such as renewable energy infrastructure and military defense machinery
  • China currently dominates the global market for mining, processing, and product creation for REEs, which underscores Western governments’ interests in developing an independent supply chain for REEs
  • Canada’s award will help fund demonstration of Ucore’s RapidSX(TM) capabilities in head-to-head comparisons with the industry-standard CSX separation process for light REEs
  • A similar $4 million award from the U.S. government is supporting the demonstration of RapidSX(TM) capabilities for separating heavy REEs, leading up to construction of a commercial facility for separating REEs in Louisiana

A modern-day type of “arms race” focused on computer magnet technology instead of military weaponry is leading Western governments to work with private companies on the development of their own supply chains for the magnets’ components.

Strategic metals innovator Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) is celebrating news that the Canadian government will add more than $4 million in non-repayable, non-dilutive funding to a $4 million award the company received from the U.S. government during the summer to demonstrate…

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