Disseminated on behalf of Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) and may include paid advertising.
- The Canadian funding package includes up to C$26 million from Natural Resources Canada through its Critical Minerals Infrastructure Fund, along with as much as C$10 million from FedDev Ontario.
- Ucore’s facility will utilize Ucore’s proprietary RapidSX(TM) processing technology, which is designed to separate rare earth elements more efficiently than conventional solvent extraction.
- Ultimately, the conditional funding enables Ucore Rare Metals to advance a Canadian solution to one of the most pressing mineral supply challenges facing North America.
The race to secure reliable supplies of rare earth elements vital to defense, clean energy and advanced manufacturing has gained new momentum in Canada. Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) has received conditional approval for up to C$36.3 million in funding from the government of Canada to support the development of a dedicated rare earth processing facility in Kingston, Ontario. The investment positions Ucore at the center of a strategy to reduce Western dependence on offshore separation and refining, particularly from China, which controls an estimated 70% of global rare earth mining and up to 90% of processing capacity according to the International Energy Agency (https://ibn.fm/39bOx).
According to Ucore, the Canadian funding package includes up to C$26 million from Natural Resources Canada through its Critical Minerals Infrastructure Fund, along with as much as C$10 million from FedDev Ontario (https://ibn.fm/uCJl1). The capital will help establish a processing pathway for the…
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://ibn.fm/UURAF
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