- Ucore Rare Metals (UURAF, Financial) secures US$18.4M from the U.S. Department of Defense, increasing total project funding to US$22.4M.
- The funding supports the development of a rare earth processing facility in Alexandria, Louisiana, expected to start production in the second half of 2026.
- Additional financial support includes CA$4.28M from the Canadian government and potential US$15M in state incentives from Louisiana.
Ucore Rare Metals Inc. (UURAF) has successfully executed a landmark US$18.4 million non-repayable award with the U.S. Department of Defense (DoD). This award, which expands on their existing Other Transaction Agreement (OT Agreement), raises the total funding to US$22.4 million. The funds will be allocated towards the construction of a commercial-scale RapidSXâ„¢ machine and associated infrastructure at the Strategic Metals Complex (SMC) in Alexandria, Louisiana.
The SMC, strategically situated within the Foreign Trade Zone of England Air Park, will facilitate the domestic processing of rare earth elements (REE) sourced from U.S.-friendly countries. The 80,800-square-foot facility is projected to commence production of rare earth oxides in the latter half of 2026, underscoring Ucore's commitment to strengthening domestic supply chains for critical minerals.
In addition to the DoD's backing, Ucore has secured a CA$4.28 million grant from the Canadian government and stands to benefit from potential incentives amounting to US$15 million from the state of Louisiana. The Ontario Critical Minerals Innovation Fund has also contributed CA$500,000. These combined supports reflect a robust international and domestic effort to boost critical mineral processing capabilities in North America.
The establishment of this facility not only signifies a pivotal development in Ucore's operational strategy but also aligns with recent U.S. Executive Orders aimed at mitigating critical mineral shortfalls. The company held a groundbreaking ceremony on May 29, 2025, marking a significant milestone in its mission to develop a sustainable and competitive REE processing industry within the United States.
