Ucore Rare Metals (TSX.V: UCU) said today that Louisiana state offered a C$15 million incentive package for Ucore's rare-earth processing facility.
Ucore is advancing its Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska, USA.
The proposed incentive package from Louisiana includes US$9.6M in tax incentives and payroll rebates over the first ten years of operation.
"The company's executive team has been in discussions with the State since the spring of 2022 and spent the better part of summer in a due-diligence process. This included an August trip to examine ten existing "brownfield facilities" throughout the State," wrote the company in a news release.
The company is planning for 2,000 tonnes per year of individual rare earth oxide ("REO") production by H2-2024 and 5,000+ tonnes per year from 2026 onward.
