Ucore Rare Metals Inc. (UURAF)
OTCQX OTCQX Primary 
XSTU Summary
Commerce Resources sees strategic role for Ashram amid US rare earth push
The Pentagon is deepening its commitment to building a domestic supply chain for critical minerals, awarding Ucore Rare Metals Inc (TSX-V:UCU, OTCQX:UURAF) an $18.4 million contract to support the construction of its first commercial-scale rare earths separation facility in Louisiana. The award, announced Friday, comes just weeks after the US Department of Defense committed $400 million to MP Materials, signaling a broader effort to secure supplies of heavy rare earth elements (HREEs), key inputs in defense technologies ranging from precision-guided missiles to radar systems and F-35 fighter jets.
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Ucore Rare Metals Inc. Profile
| Metals & Mining Industry | Materials Sector | Mr. Patrick Ryan P.Eng. CEO | OTCQX Exchange | CA90348V3011 ISIN |
| Canada Country | - Employees | - Last Dividend | 11 Dec 2020 Last Split | - IPO Date |
Overview
Ucore Rare Metals Inc. is a company dedicated to the exploration and development of rare and critical metals, primarily focusing on operations within Canada and the United States. Initially established as Ucore Uranium Inc., the company made a strategic shift in its core business activities, leading to a name change in June 2010 to better reflect its focus on rare metals. Since its founding in 2006, Ucore Rare Metals Inc. has positioned itself in the forefront of the rare earth elements industry, holding a 100% interest in the Bokan-Dotson Ridge rare earth element project located in Prince of Wales Island, Alaska. The company’s headquarters is based in Bedford, Canada, steering its operations towards the extraction, beneficiation, and separation of valuable rare earth metals essential for various high-tech and green energy applications.
Products and Services
- Extraction and Beneficiation – Ucore Rare Metals Inc. specializes in the initial stages of mining operations, focusing on the extraction and beneficiation of rare earth metals. These processes involve the removal of valuable minerals from their natural matrices and the enhancement of their quality through various separation and concentration techniques. This initial step is crucial for the effective production of high-purity rare earth elements, which are in increasing demand due to their critical role in modern technology and sustainable energy solutions.
- Separation of Rare and Critical Metals – Following the extraction process, Ucore Rare Metals Inc. provides specialized services in the separation of rare and critical metals. This includes the intricate and precise separation of mixed rare earth concentrates into individual rare earth elements. The ability to separate and purify these elements is a key factor in their usability for specific industrial, technological, and environmental applications, making this service essential for the production of various high-value products.
- Bokan-Dotson Ridge Rare Earth Element Project – The cornerstone of Ucore Rare Metals Inc.'s product and service offerings is its 100% interest in the Bokan-Dotson Ridge rare earth element project. Located on Prince of Wales Island, Alaska, this project stands out as a significant asset in the company’s portfolio. It represents a dedicated effort towards the exploration, development, and eventual mining of rare earth elements critical to the electronics, clean energy, and defense sectors, among others. This project underscores Ucore's commitment to securing a supply chain of strategic minerals essential for future technologies and sustainable development.
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