Ucore Rare Metals Inc. has received conditional approval for up to C$36.3 million in funding from the government of Canada to support the development of a dedicated rare earth processing facility in Kingston, Ontario. The investment positions Ucore at the center of a strategy to reduce Western dependence on offshore separation and refining, particularly from China, which controls an estimated 70% of global rare earth mining and up to 90% of processing capacity according to the International Energy Agency.
According to Ucore, the Canadian funding package includes up to C$26 million from Natural Resources Canada through its Critical Minerals Infrastructure Fund, along with as much as C$10 million from FedDev Ontario. The capital will help establish a processing pathway for the rare earth elements samarium and gadolinium, which are essential to permanent magnet production and high-temperature defense applications. This development represents a significant step toward creating a North American rare earth supply chain independent of Chinese control.
The company's broader strategy involves disrupting the People's Republic of China's control of the North American rare earth element supply chain through multiple facilities. Ucore's vision includes the near-term development of a heavy and light rare-earth processing facility in Louisiana, subsequent strategic metals complexes in Canada and Alaska, and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska. For more information about the company's initiatives, visit https://www.Ucore.com.
The funding announcement comes at a critical time as Western nations seek to secure their supply chains for critical minerals essential to modern technologies, including electric vehicles, renewable energy systems, and defense applications. By establishing domestic processing capabilities for elements like samarium and gadolinium, Canada and its partners aim to reduce strategic vulnerabilities in their industrial and defense sectors. The full details of the funding arrangement and Ucore's plans can be found in the original coverage at https://ibn.fm/t2woG.
