Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) announced it has executed a memorandum of understanding dated March 16, 2026, with Vulcan Elements Inc. to collaborate on developing a domestic rare earth magnet supply chain for defense and commercial applications. The partnership plans for Ucore to supply neodymium-praseodymium (NdPr) oxide and dysprosium (Dy) oxides at commercial scale beginning in 2027, linking Ucore’s separation platform in Ontario and planned Louisiana Strategic Metals Complex with Vulcan’s North Carolina manufacturing operations.
The MOU outlines a framework for both companies to work toward advancing production, technical specifications, and a longer-term commercial supply agreement. This collaboration is significant because it aims to reduce North American dependence on China for rare earth elements, which are critical for permanent magnets used in electric vehicles, wind turbines, and defense systems. The U.S. government has prioritized building domestic supply chains for these materials, and this agreement represents a concrete step toward that goal.
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 plans to disrupt China’s control of the North American rare earth element supply chain by 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 100%-controlled Bokan-Dotson Ridge Rare Heavy REE Project in Southeast Alaska. The Louisiana facility is expected to be a key node in the supply chain, processing raw materials into separated oxides for magnet manufacturing.
Vulcan Elements brings manufacturing capabilities in North Carolina, positioning the partnership to cover the full value chain from mining to magnet production. The MOU is a non-binding agreement that sets the stage for a definitive commercial agreement, which would secure a long-term supply of critical materials for U.S. defense and commercial sectors. The announcement comes as the Biden administration has invoked the Defense Production Act to boost domestic production of critical minerals, and the Department of Defense has awarded contracts to several companies to develop rare earth processing capabilities.
For more information, view the full press release at https://ibn.fm/a2C7a. Ucore is listed on the TSXV under the symbol “UCU” and on the OTCQX under “UURAF.” Further details are available on the company’s website at www.ucore.com.
