Ucore & Innovation Metals Corp. Applaud White House Executive Order to Establish a U.S. Critical-Minerals Supply Chain

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[{"type":"text","content":"Ucore & Innovation Metals Corp. Applaud White House Executive Order to Establish a U.S. Critical-Minerals Supply ChainHalifax, Nova Scotia--(Newsfile Corp. - October 1, 2020) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (\"Ucore\" or the \"Company\") and its wholly owned subsidiary, Innovation Metals Corp. (\"IMC\"), applaud the new Executive Order from the United States Federal Government directing the enhancement of North American supply chains for critical minerals. The September 30, 2020 U.S. Presidential Executive Order, entitled, 'Executive Order on Addressing the Threat to the Domestic Supply Chain from Reliance on Critical Minerals from Foreign Adversaries,' directs the upgrade of U.S. mining and production capabilities amid threats from foreign adversaries and overreliance on Chinese supply chains and specifically addresses rare-earth elements (\"REEs\").\"Our dependence on one country, the People's Republic of China (China), for multiple critical minerals is particularly concerning. The United States now imports 80 percent of its rare earth elements directly from China, with portions of the remainder indirectly sourced from China through other countries. In the 1980s, the United States produced more of these elements than any other country in the world, but China used aggressive economic practices to strategically flood the global market for rare earth elements and displace its competitors. Since gaining this advantage, China has exploited its position in the rare earth elements market by coercing industries that rely on these elements to locate their facilities, intellectual property, and technology in China. For instance, multiple companies were forced to add factory capacity in China after it suspended exports of processed rare earth elements to Japan in 2010, threatening that country's industrial and defense sectors and disrupting rare earth elements prices worldwide.\"President Donald J. TrumpThe White HouseSeptember 30, 2020The Executive Order requests that agencies consider funding for mining projects through multiple legislative mechanisms as well as potential trade actions. Ucore has long suggested that additional funding for U.S.-based critical-materials supplies - including the Company's 100% owned Bokan Mountain Heavy Rare-Earth Elements Project (\"Bokan Mountain\") in Southeast Alaska, USA - is a cr...

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