Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) announced Tuesday it has executed a memorandum of understanding with Vulcan Elements Inc. to collaborate on developing a domestic rare earth magnet supply chain for defense and commercial applications. The agreement, dated March 16, 2026, outlines plans for Ucore to supply neodymium-praseodymium (NdPr) oxide and dysprosium (Dy) oxides at commercial scale beginning in 2027.
The collaboration links Ucore's separation platform in Ontario, Canada, and its planned Louisiana Strategic Metals Complex with Vulcan's manufacturing operations in North Carolina. Both companies will work toward advancing production, establishing technical specifications, and negotiating a longer-term commercial supply agreement. This partnership is part of a broader effort to disrupt the People's Republic of China's control of the North American rare earth element supply chain.
Ucore's strategy includes developing a heavy and light rare-earth processing facility in Louisiana, subsequent strategic metals complexes in Canada and Alaska, and the long-term development of its Bokan-Dotson Ridge Rare Heavy REE Project in Southeast Alaska. The company is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies.
This MOU is significant because it addresses a critical vulnerability in the U.S. defense and technology sectors: the heavy reliance on China for rare earth elements, which are essential for manufacturing permanent magnets used in electric vehicles, wind turbines, and military systems. By establishing a domestic supply chain, Ucore and Vulcan aim to enhance national security and support the growth of clean energy and advanced manufacturing industries.
For more information, visit the company's newsroom at https://ibn.fm/UURAF or view the full press release at https://ibn.fm/a2C7a.
