The Supply Crisis for Rare Earth Elements Intensifies
NetworkNewsWire Editorial Coverage
China has pledged to reach carbon neutrality before 2060 and is considering bans on exports of rare earth technology critical to the global supply chain today.- The
U.S. DoD is actively exploring new technology related to REE separation technology, including awarding a contract to Ucore to explore its innovations.$4 million - Successful completion of the initial
U.S. DoD contract could result in additional follow-on funding to support the company's facility in Louisiana. - Ucore is commissioning a demonstration facility in
Ontario to be used for DoD contract, while designing a commercial-scale facility inLouisiana .
Click here to view the custom infographic of the Ucore Rare Metals Inc. editorial.
China Threatens Bans on Critical Exports
In September 2020, President Xi Jinping announced that
The fear of
For more than 15 years, Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) has been an important part of the rare earth market, developing technology to disrupt the status quo of rare earth elements. The company is now in a position to help solve the impending supply crisis by assisting with the creation of an independent supply chain of rare earth oxides for North American manufacturers. Ucore has differentiated itself with a unique approach that focuses on the most profitable sector of the supply chain, processing material and avoids the risks of large CAPEX requirements.
Ucore is fast approaching a launch point as it commissions a commercial demonstration plant in
And now, Ucore has caught the attention of what could be a milestone "company maker" partner: the
This month, Ucore announced that it has been awarded a
The objective of the new project is to help the DoD understand Ucore's new innovative separation processes that increase the ability to create domestic rare earth processing plants and the capability to source a sustainable domestic processing facility for these important materials. In short, the
For its part, Ucore will utilize its RapidSX Commercial Demonstration Facility in
RapidSX: A Superior Technology
The DoD wants to see first-hand the capabilities of RapidSX, as a potential paradigm shift away from conventional metal separation technology such as that used in
To understand the value of this takes some clarity on light and heavy REEs.
REEs represent a group of 17 chemically similar elements with unique properties essential for modern technologies. Four of these elements are critical inputs to rare earth permanent magnets. These four elements must be separated from the rest in order for their unique properties to be captured. However, effectively separating these elements is a daunting task for current technological approaches. The primary challenge arises from the similar chemical and physical properties shared among REEs, making them hard to isolate. The minimal differences in atomic radii and ionic charge among the REEs complicate the separation process.
Benefits Abound with RapidSX
Being able to efficiently separate heavy and light REEs is a differentiator for RapidSX on its own. But that is not all that Ucore's proprietary tech offers. There is also an environmental impact from current extraction technology, because it generates large volumes of toxic waste. RapidSX overcomes an additional layer of complexity by making the process far more environmentally friendly.
RapidSX also has a much smaller carbon footprint than other metal separation technologies. Its smaller footprint uses less power, and all the solvents are recycled. These features effectively westernize a process that will enable an environmentally safe and very economically robust business plan.
Still More to Show Off
Ucore intends to prove to the DoD that its construction design is a continuous process working facility capable of processing many metric tons of feedstock. The demonstration facility in
All of this aligns with the final primary purpose of the
Structured for Growth
Ucore is structured for rapid growth in a sector that will provide products critical to the successful electrification of the North American economy. The sector has plenty of room for multiple players and different avenues for investor exposure.
MP Materials Corp. (NYSE: MP) produces specialty materials that are vital inputs for electrification and other advanced technologies. The company is currently expanding its manufacturing operations downstream to provide a full supply chain solution from materials to magnetics. In February, MP struck a deal with Sumitomo Corp. to diversify and strengthen rare earth supplies in
Neo Performance Materials Inc. (TSX: NEO) manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo's advanced industrial materials — magnetic powders and magnets, specialty chemicals, metals and alloys — are critical to the performance of many everyday products and emerging technologies. In April, Neo acquired a controlling interest in SG Technologies Group Limited, one of
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) is a
Li-Cycle Holdings Corp., (NYSE: LICY) an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in
It is past time to look beyond
For more information Ucore Rare Metals, please visit Ucore Rare Metals.
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