Ontario Sun - Ucore Rare Metals Inc. Secures $18.4 Million Grant to Advance Rare Earth Supply Chain Independence

The U.S. Department of Defense has awarded Ucore Rare Metals Inc. an $18.4 million grant to accelerate the development of its RapidSX(TM) rare-earth separation technology at the Louisiana Strategic Metals Complex (SMC). This initiative represents a critical move towards reshoring the production of rare-earth elements, which are vital for a wide range of technologies, from military applications to renewable energy systems. Currently, China dominates the global rare-earth refining market, controlling approximately 80% of the supply. The SMC project, supported by a $15 million incentive package from Louisiana, is poised to challenge this dominance by producing 2,000 tonnes of rare-earth oxides annually by late 2024, with plans to expand to 7,500 tonnes by 2027.

The strategic importance of the SMC cannot be overstated. Located at England Airpark near Gulf Coast ports, the facility is not only a linchpin in efforts to secure the U.S. defense supply chain—powering everything from F35 engines to precision-guided weapons—but also a significant economic boon for central Louisiana. The project is expected to create 100 direct jobs and nearly 300 ancillary roles, providing a much-needed boost to the local economy. For investors, the SMC represents a unique opportunity, backed by a rare alignment of federal, state, and military support for a domestic rare-earth venture.

Ucore Rare Metals Inc.’s RapidSX(TM) technology is a game-changer in the rare-earth sector. Offering a more efficient and compact alternative to traditional separation methods, it can deliver heavy rare-earth elements in a matter of days, significantly reducing the time and space required for production. This technological advancement is a key factor in the U.S. strategy to reduce dependence on foreign sources of critical minerals and enhance national security. The SMC project is a clear indication of the growing recognition of the strategic importance of rare-earth elements and the need for a diversified and resilient supply chain.