Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) announced on March 16, 2026, that 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 partnership aims to reduce reliance on foreign suppliers, particularly China, which currently dominates the rare earth element (REE) market.
Under the MOU, Ucore plans to supply neodymium-praseodymium (NdPr) oxide and dysprosium (Dy) oxides at commercial scale beginning in 2027. These materials are critical for manufacturing high-strength permanent magnets used in electric vehicles, wind turbines, and defense systems. The collaboration links Ucore’s separation platform in Ontario and its planned Louisiana Strategic Metals Complex with Vulcan’s manufacturing operations in North Carolina. The companies will work together to advance production, define technical specifications, and negotiate a longer-term commercial supply agreement.
Ucore’s vision is to become a leading advanced technology company providing best-in-class metal separation products and services. Through strategic partnerships, the company aims to disrupt China’s control of the North American REE supply chain. This includes developing 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 in Southeast Alaska.
The announcement underscores the growing importance of securing domestic supply chains for critical minerals. The U.S. government has prioritized reducing dependence on foreign sources for rare earth elements, which are essential for national security and clean energy technologies. This MOU aligns with those objectives by fostering domestic production and processing capabilities.
For more details, the full press release is available at https://ibn.fm/a2C7a. Additional updates on Ucore Rare Metals can be found in the company’s newsroom at https://ibn.fm/UURAF.
