Ucore announces $4 million award from the US Department of Defense
Ucore Rare Metals (TSXV: UCU) announced on Tuesday that its wholly owned subsidiary, Innovation Metals Corp. (“IMC”), had been awarded a firm-fixed-price US$4 million by the US Army Contracting Command-Orlando to conduct a rare earth element separation technology capabilities prototype project at the company’s RapidSX™ Commercialization and Demonstration Facility in Kingston, Ontario.
“We believe that Ucore has one of the West’s most compelling rare-earth-supply chain business models,” stated Pat Ryan, Ucore Chairman and CEO. “This US-DoD Project will allow us to demonstrate the RapidSX™ technology platform for rare earth element separation and will include original equipment manufacturers’ qualification trials in coordination with our commercial development activities at the Company’s planned Louisiana SMC.
“The rare earth element processing opportunity afforded Ucore through this Award is pivotal as the company continues to seek out and collaborate with like-minded upstream and downstream partners as part of a Western rare-earth-element supply chain solution.”
Ucore also has a rare earth project. Ucore’s 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project is located on Prince of Wales Island in Southeast Alaska, USA.