{kanada_flagge}What does the West have to counter China’s dominance of rare earth supply chains? Halifax, Nova Scotia-based Ucore Rare Metals Inc (TSXV: UCU; OTCQX: UURAF; FRA: U9UA), is promising North American OEMs a clean yet competitive alternative – thanks to new technology. The company recently announced that the first demonstration plant using the newly developed RapidSX™ extraction technology is starting up these days at its Kingston, Ontario site.
{kanada_flagge}What does the West have to counter China’s dominance of rare earth supply chains? Halifax, Nova Scotia-based Ucore Rare Metals Inc (TSXV: UCU; OTCQX: UURAF; FRA: U9UA), is promising North American OEMs a clean yet competitive alternative – thanks to new technology. The company recently announced that the first demonstration plant using the newly developed RapidSX™ extraction technology is starting up these days at its Kingston, Ontario site.
The new plant is expected to demonstrate the technical and economic advantages of RapidSX™ technology over conventional extraction technologies, processing tens of tons of heavy and light mixed rare earth element concentrates. It will demonstrate the technology over thousands of semi-continuous operating hours producing high purity NdPr, praseodymium, neodymium, terbium and dysprosium rare earth elements for early OEM product qualification trials.
The demonstration facility is located in Ucore’s 470 square meter RapidSX™ Commercialization and Demonstration Facility (“CDF”) in Kingston, Ontario. The facility is operated by partner Kingston Process Metallurgy Inc (“KPM”).
Figure 1: Partial view of Ucore’s RapidSX™ REE separation demonstration facility in Kingston, Ontario.
Ucore plans to start up its own, larger production facility for the separation of REE rare earth oxides in the state of Louisiana; USA. The plant is expected to initially process 2,000 metric tons of rare earth oxides (“TREO”) by the beginning of 2025 and expand to a capacity of 5,000 metric tons by 2026.
NEW: Follow us on Twitter for more English content!
Mike Schrider, P.E., VP and COO commented, “We are working toward near-term commercial deployment of RapidSX™ rare earth separation technology in North America. The commissioning of the demo plant is a major milestone for the team.”
The bottom line is that China purposefully eliminated the once-leading North American rare earth industry years ago through undercutting competition. Only gradually is the West regaining the important know-how to separate rare earth oxides. After a long time, RapidSX™ technology is a true innovation. It promises more throughput in less time with a continuous process. This year, Ucore plans to commence construction of the first larger plant with an initial capacity of 2,000 tons in the USA. The goal is to be competitive with Chinese products in terms of quality and economics. If both are given, American OEMs would probably prefer to switch to rare earths “made in the USA” sooner rather than later. Ucore is exactly in the category of companies that the Biden Inflation Act wants to promote in terms of greater resilience. The company could become a strategically important REE producer for American industry.
Disclaimer: GOLDINVEST Consulting GmbH publishes comments, analyses and news on https://goldinvest.de. These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice and do not constitute an offer to sell the stock(s) discussed or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising / journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. There is no contractual relationship between the GOLDINVEST Consulting GmbH and its readers or the users of its offers, because our information refers only to the company, but not to the investment decision of the reader.
The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research. Nevertheless, any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here is expressly excluded. Please also note our terms of use.
According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH hold shares of Ucore Rare Metals and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Furthermore, GOLDINVEST Consulting GmbH is remunerated by Ucore Rare Metals for reporting on the company. This is another clear conflict of interest.
