Ucore Rare Metals, Inc (OTCMKTS: UURAF) is a well-funded Canadian company focused on Rare Earth Elements (“REE’s” or “rare earths”). With the aid of funding from the Alaskan government for a new state of the art REE facility in Ketchikan Alaska, the company actually believes it can help bring about the end of the United States’ dependence on China for rare earth materials.
We are currently dependent upon China for rare earths for, among other things, integral military applications and other high technology, which require an abundance of REE’s. With tough trade talk coming from the Trump White House leaving the state of trade relations between the US and China in disarray, is creates a need to free ourselves from China for rare earths currently dependent upon China for rare earths.
Ucore Rare Metals, Inc (OTCMKTS: UURAF) recently engaged IBC Advanced Technologies, Inc. (IBC) of American Fork, Utah, to commence advanced engineering and design procedures for the U.S. Specialty Metals Complex (SMC) in Ketchikan, which has a vague and tentative start date of 2020.
“Having IBC commence E&D activities is a significant milestone for the Alaska SMC,” said Mike Schrider, COO of Ucore. “Completion of IBC’s initial test work and engineering tasks will allow us to engage other engineering specialists regarding the non-MRT [Molecular Recognition Technology] portions of the Plant such as the product dissolution and acid/wastewater recycling sections. Once those systems are designed, we will then be in a position to commence discussions with local Alaskan engineers regarding our facility requirements to house the REE separation plant based on the specific site we select in Ketchikan.”
“The Ucore-IBC alliance in the REE sector builds on IBC’s proven capabilities to develop, scale-up and commercialize selective separation systems for a number of diverse and complex applications,” stated Jim McKenzie, President and CEO of Ucore. “By extrapolating the knowledge gained from the SuperLig® One rare earth pilot plant, we have a clear plan of execution for the Alaska SMC. When completed, we will have established a significant domestic source of saleable rare earth oxides, which will go a long way towards establishing technology metals independence for the US in an environmentally sustainable and safety conscious manner.”
The E&D process will culminate in a technical and economic document which will form the basis of financing discussions with the Alaska Industrial Development and Export Authority (AIDEA), pursuant to Senate Bill 99 (SB99). In 2014, Ucore announced the SB99 initiative, which included the unanimous support of the Alaska State Legislature for the investment of up to USD $145 Million in REE mining and separation facilities in South East Alaska, subject to review and approval by AIDEA. (Source: Globe Newswire)
While it is still quite a way off, we are very interested in tracking Ucore’s progress with its potentially government-funded (at least in part) rare earth extraction facility in Ketchikan, which will be used to process materials from its historic Dotson Bokan – Dotson Ridge property, which boasts the highest grade deposits of heavy REE’s on American soil. So rich, in fact, that the company has publicly claimed it could be the end of US dependence on Chinese rare earths. We’ll stay up on any further developments with UURAF and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free small cap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!
Disclosure: Affiliates to the Owner of Street Register have been compensated $10000USD by Ucore Rare Metals, Inc. for one month (05/07/18-06/08/18) of investor awareness and marketing services for UURAF. No one at Street Register holds any position in UURAF stock, short or long.