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FAQ: Ucore Rare Metals Funding for North American Rare Earth Supply Chain
TL;DR
Ucore Rare Metals secured up to C$36.3 million in Canadian government funding, positioning it to gain a competitive edge in reducing Western dependence on Chinese rare earth processing.
Ucore's facility will use proprietary RapidSX(TM) technology to separate rare earth elements more efficiently than conventional solvent extraction methods.
This Canadian rare earth processing solution strengthens North American supply chains for clean energy and defense, making the world less dependent on single-source suppliers.
China currently controls 70% of global rare earth mining and 90% of processing, making Ucore's Canadian facility a strategic shift in mineral supply dynamics.
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Ucore Rare Metals Inc. has secured conditional government funding to develop a rare earth processing facility in Ontario, Canada, to strengthen North America's supply chain for these critical minerals.
It addresses the pressing challenge of reducing Western dependence on offshore rare earth separation and refining, particularly from China, which controls an estimated 70% of global mining and up to 90% of processing capacity.
Ucore has conditional approval for up to C$36.3 million, including up to C$26 million from Natural Resources Canada's Critical Minerals Infrastructure Fund and as much as C$10 million from FedDev Ontario.
The facility will utilize Ucore's proprietary RapidSX™ processing technology, which is designed to separate rare earth elements more efficiently than conventional solvent extraction.
The facility will be developed in Kingston, Ontario, Canada.
Rare earth elements are vital to defense, clean energy, and advanced manufacturing sectors.
The funding comes from the government of Canada through Natural Resources Canada and FedDev Ontario.
The funding enables Ucore to advance a Canadian solution to one of the most pressing mineral supply challenges facing North America by establishing a domestic processing pathway.
The latest news and updates relating to UURAF are available in the company's newsroom at https://ibn.fm/UURAF.
Curated from InvestorBrandNetwork (IBN)
