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Ucore Launches US Department of Defense Funded $18.4 Million Commercial Rare Earth Refining Project
Ucore announces: Initiation of the USD$18.4 million DOD Phase 2 award for the scale-up of its...
About this update from Ucore Rare Metals Inc.
[{"type":"text","content":"Ucore Launches US Department of Defense Funded $18.4 Million Commercial Rare Earth Refining ProjectUcore announces:Initiation of the USD$18.4 million DOD Phase 2 award for the scale-up of its Louisiana commercial rare earth refining complex.Successful separation of terbium and dysprosium - critical heavy rare earth elements (\"HREEs\") - further to its US DoD Phase 1 project, resulting in a payment in the amount of USD $1.1 million. An appreciation for recent DoD actions to diversify and secure domestic production, especially HREEs, which are tightly controlled by China. Halifax, Nova Scotia--(Newsfile Corp. - July 14, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (\"Ucore\" or the \"Company\") is pleased to announce that the Company and representatives of the US Department of Defense (the \"Project Team\") have completed their formal project kick off meeting with respect to the Company's previously announced USD$18.4 million Phase 2 Award (the \"Phase 2 Award\" or the \"Award\"). The Award facilitates the construction of the Company's first commercial scale RapidSXTM machine at its proposed Louisiana rare earth refining facility, which is focused on heavy rare earth elements (HREEs). The Phase 2 Award is in addition to the previously announced award in the amount of USD$4 million (the \"Phase 1 Award\"). The Phase 1 Award is a demonstration program to show the efficacy of the company's RapidSX™ proprietary processing in unlocking four primary rare earths required to produce rare earth permanent magnets - including highly sought after dysprosium. The Phase 2 Award is being administered as an increase to the Company's existing Phase 1 Agreement. HREEs are crucial to US national security due to their vital role in advanced military technologies. Essential components utilizing these materials include power precision-guided missiles, radar systems, and F-35 jet engines. Beyond defense, HREEs are critical for advanced technologies like electric vehicles, renewable energy, robotics, artificial intelligence and semiconductors. Ucore's strategic partnership with the DOD, in particular as it relates to HREEs, is designed to address potential vulnerabilities as China continues to restrict exports, and thus help ensure US technological leadership in geopolitically tense times.Phase 2 Award Update - Commercial Scale-UpDur...