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Ucore Announces Strategic Alliance with Vacuumschmelze and eVAC Magnetics LLC for the Supply of Rare Earth Oxides
Ucore announces: eVAC Magnetics has completed construction of a rare earth permanent magnet ...
About this update from Ucore Rare Metals Inc.
[{"type":"text","content":"Ucore Announces Strategic Alliance with Vacuumschmelze and eVAC Magnetics LLC for the Supply of Rare Earth OxidesUcore announces:eVAC Magnetics has completed construction of a rare earth permanent magnet manufacturing facility in Sumter County, South Carolina with support from the US DoW and a $111.9 million Qualifying Advanced Energy Project Tax CreditVAC also produces magnets at its facilities in Europe requiring rare earth oxides for product lines including neodymium-iron-boron (NdFeB) and Samarium-Cobalt (SmCo) permanent magnets. The Memorandum of Understanding (MOU) provides a means for eVAC and VAC to align with Ucore for the supply of high-purity rare earth oxides which will be coordinated with Ucore's staged growth refining plans in Louisiana, USA and Ontario, Canada. Halifax, Nova Scotia--(Newsfile Corp. - November 3, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (\"Ucore\" or the \"Company\") is pleased to announce the signing of a Memorandum of Understanding (\"MOU\") with Vacuumschmelze GmbH & Co. KG (\"VAC\") and eVAC Magnetics LLC (\"eVAC\") to develop a collaborative supply agreement for high-purity rare earth oxides (\"REOs\").VAC is part of VACUUMSCHMELZE (\"VAC Group\") with operations beginning Fall of 2025 in Sumter County, South Carolina, under eVAC Magnetics LLC, and has received strong federal and state support including a Defense Production Act Title III grant from the Department of War and a $111.9 million Qualified Advanced Energy Project Tax Credit.The eVAC facility and VAC's decades of experience in Europe with rare earth magnet technology and process intellectual property is a critical piece to securing stable Western World supply. NdFeB permanent magnet solutions are critical to automotive, industrial automation and renewable energy applications, while Samarium-Cobalt magnets are essential to defense systems including advanced radar, sonar and guidance systems. To ensure a sustainable and long-term supply of rare-earth oxides, Ucore's RapidSX™ refining plans advancing in Alexandria Louisiana and Kingston, Ontario become a vital strategic input for unified market growth plans.The MOU was signed at the G7 Energy and Environment Minister's Summit. Left to right, Standing: Matthias Koehler, Deputy Director General of Raw Materials Policy for Germany; Hon. Stephen Lecce, Minister o...