Rare Earth Exchanges

Ucore Continues to Advance its US DoD Demonstration Project towards Louisiana REE Commercialization

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Highlights

  • Ucore Rare Metals secures $4M DoD agreement for RapidSX rare earth separation technology demonstration
  • Company reports 60% completion of project objectives, including processing 3 tons of heavy rare earth elements
  • RapidSX technology claims faster processing, smaller footprint, and lower costs compared to conventional methods

Nova scotia-based Ucore Rare Metals Inc. (opens in a new tab) **(**TSXV: UCU (opens in a new tab)) (OTCQX: UURAF (opens in a new tab)) (“Ucore” or the “Company”) released news involving a  US$4 million Other Transaction Agreement (the “OTA”) with the US Department of Defense (opens in a new tab) (the “DoD”). The work is taking place at the Company’s Commercialization and Demonstration Facility (“CDF”) in Kingston, Ontario, utilizing its 52-Stage RapidSX™ Demonstration Plant (“Demo Plant”) for the separation of mixed heavy and light rare earth elements (“REE”) from a mixed rare earth oxide (“MREO”).

DoD Visit & Milestone Update

During an October 2024 CDF visit by the DoD, Ucore Rare Mentals reported that it has completed 60% of the stated objectives in the Project’s Statement of Work, including:

  • Establishment of an enhanced on-site analytical laboratory to support 120 hours a week of scheduled shift work

  • Institution of a Continuous Improvement Program to ensure a “copy and paste” RapidSX™ technology transfer from Kingston, Ontario, to Ucore’s developing commercial REE separation plant in Alexandria, Louisiana – the Louisiana Strategic Metals Complex (opens in a new tab) (“SMC”)

  • Completion of over 2,600 hours of Demo Plant runtime

  • Processing over 3 tons of REE derived from a heavy rare earth element ionic clay sourced MREO

  • Producing over 57,000 liters of rare earth chloride raffinates and 57,000 liters of rare earth chloride strip liquors

  • Direct comparisons of the RapidSX™ Demo Plant against the smaller scale conventional SX Pilot Plant for purity and recovery – with every result to date indicating that RapidSX™ is equal to or superior

  • Working towards the establishment of a commercial REE Western supply chain:

  • Conducting approximately thirty CDF tours since the Project kickoff with US and Canadian government entities, REE resource companies, REE magnet and metal makers, automotive OEMs, rare earth oxide (“REO”) consumers, international trading companies, financiers, and other current and prospective SMC partners

  • Resulting in several preliminary agreements for MREC or MREO supply and developing oxide offtake arrangements for the Louisiana SMC

What is RapidSX?

RapidSX was developed by Innovation Metals Corp. (IMC) with some early assistance from the US Department of Defense. Ucore Rare Metals Inc. is now commercializing RapidSX at its facility in Kingston, Ontario, and at a new facility in Louisiana.  Ucore Rare Metals acquired (opens in a new tab)%20in%20Alexandria%2C%20Louisiana.) Innovation Metals Corp in 2020.

RapidSX is a REE separation technology that uses a column-based platform to speed up the process of separating REEs. So key claims include the following:

Claims

Summary

Faster

RapidSX can process REEs up to three times faster than conventional solvent extraction (SX) methods

Smaller Footprint

RapidSX’s compact design reduces the size of the plant needed for separation. 

Lower Costs

RapidSX can lower capital and operating costs for separation plants. 

More Adaptable

RapidSX can be used with a variety of feedstocks and can recover quickly after interruptions. 

Environmentally friendlier

RapidSX is a more environmentally sound alternative to the traditional vat-based SX methods. 

Mike Schrider, P.E., (opens in a new tab) Vice President and Chief Operating Officer of Ucore “The DoD work that Ucore is performing in Kingston is essential to the commercial deployment of our RapidSX™ separation technology in Louisiana,” stated . “The operation of our demonstration-scale plant de-risks the commercial scale-up and allows Ucore the opportunity to attract like-minded Western partners as the Company works to assist in establishing an alternative rare earth supply chain – particularly for heavy rare elements which are essential to the operation of rare earth permanent magnets at elevated temperatures in military, commercial and consumer vehicles and robots.”

The Company will continue the execution of its DoD heavy REE Project through the first half of 2025 and then transition to the completion of its previously announced C$4.28M light REE demonstration project with the Government of Canada (opens in a new tab).

The Company

Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore’s vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this plan includes disrupting the People’s Republic of China’s control of the North American REE supply chain through the near-term establishment of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore’s 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.

Ucore is listed on the TSXV under the trading symbol “UCU (opens in a new tab)” and in the United States on the OTC Markets’ OTCQX® Best Market under the ticker symbol “UURAF (opens in a new tab)  The company currently trades at 0.62 per share (opens in a new tab).

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