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Ucore Receives Conditional Approval from the Government of Canada for up to $36.3M for Canadian Rare Earth Processing
Ucore announces: Conditional approval for up to $36.3M from the Government of Canada, through...
About this update from Ucore Rare Metals Inc.
[{"type":"text","content":"Ucore Receives Conditional Approval from the Government of Canada for up to $36.3M for Canadian Rare Earth ProcessingUcore announces:Conditional approval for up to $36.3M from the Government of Canada, through Natural Resources Canada (\"NRCan\") and the Federal Economic Development Agency for Southern Ontario (\"FedDev Ontario\") to scale up a first-of-its-kind commercial processing facility in Kingston, Ontario, dedicated to the refining of the critical rare earth elements samarium and gadolinium.The first dedicated samarium and gadolinium oxide production facility in North America to support samarium cobalt magnet production.Based on Ucore's advanced RapidSX™ separation technology.Halifax, Nova Scotia--(Newsfile Corp. - October 31, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (\"Ucore\" or the \"Company\") is pleased to announce it has been conditionally approved for a Government of Canada contribution of up to $36.3 million for their \"Pathway to Samarium and Gadolinium Security\" Project (\"The Project\"). This includes the conditional approval of a non-repayable contribution of up to $26.3 million from NRCan, through its Global Partnerships Initiative (GPI) Program and up to $10 million from FedDev Ontario, to demonstrate and scale-up a first-of-its-kind commercial processing facility in Kingston, Ontario, dedicated to the refining of the critical rare earth elements samarium and gadolinium. Once approved, this funding will address a critical gap in the North American defense and technology supply chains. Samarium and gadolinium are among the rare earths added by China to its Export Control List earlier this year. These Export Controls are part of China's strategy to prevent the supply of rare earth materials for military applications and reflect the ongoing shift in China's export policy, moving toward stricter regulation and control. These elements are vital to next-generation technologies, including high-performance samarium-cobalt (\"SmCo\") permanent magnets for defense systems including advanced radar, sonar and guidance systems, compact powerful micro-motors, advanced medical imaging and nuclear reactors.\"Canada is proud to support Ucore in advancing critical mineral development that aligns with our national priorities and international commitments,\" said the Honourable Tim Hodgson, Minister of...