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Ucore and Vulcan Elements Join Forces to Build Domestic Rare Earth Magnet Supply Chain for Defense and Commercial Applications
Ucore highlights: Ucore and Vulcan Elements executed a Memorandum of Understanding to build a ...
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[{"type":"text","content":"Ucore and Vulcan Elements Join Forces to Build Domestic Rare Earth Magnet Supply Chain for Defense and Commercial ApplicationsUcore highlights:Ucore and Vulcan Elements executed a Memorandum of Understanding to build a domestic, secure rare earth magnet supply chain for defense and commercial applications.Ucore will provide initial NdPr and Dy oxide samples to Vulcan this year, leading to a long-term commercial supply agreement beginning in 2027.Together, Ucore and Vulcan Elements are onshoring an integrated rare earth magnet supply chain. Ucore's Louisiana Strategic Metals Complex will directly feed Vulcan's North Carolina manufacturing facilities.Vulcan announced a $1.4 billion partnership with the United States Government to build the largest rare earth magnet factory in the world outside of China, with 10,000 metric tonnes of magnet manufacturing capacity.Halifax, Nova Scotia--(Newsfile Corp. - March 24, 2026) -  Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (\"Ucore\" or the \"Company\") is pleased to announce the execution of a Memorandum of Understanding dated March 16, 2026 with Vulcan Elements Inc. (\"Vulcan\") to collaborate on the development of a domestic rare earth magnet supply chain for defense and commercial applications. Under the agreement, the parties intend to finalize a full commercial supply partnership whereby Ucore would supply Vulcan with NdPr oxide and Dy oxides at commercial scale beginning in 2027. The collaboration aligns Ucore's demonstrated separation platform at its Commercial Demonstration Facility (\"CDF\") in Kingston, Ontario, and its planned Louisiana Strategic Metals Complex (\"SMC\") in Alexandria, Louisiana, with a leading American magnet manufacturer. Vulcan currently operates a commercial magnet manufacturing facility in Durham, North Carolina, and is expanding to a 10,000 tonne magnet manufacturing facility in Benson, North Carolina. The facility is enabled by a $1.4 billion partnership with the United States Government, including the Department of War and the Department of Commerce. In May 2025, Ucore announced an $18.4 million Award by the Department of War to develop its rare earth processing capabilities in Louisiana. Ucore intends to make a portion of its planned Louisiana SMC capacity available to Vulcan beginning in 2027. The collaboration would create a direct...