Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) announced the execution of 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.
The collaboration links Ucore’s separation platform in Ontario and its planned Louisiana Strategic Metals Complex with Vulcan’s manufacturing operations in North Carolina. Both companies will work toward advancing production, technical specifications, and a longer-term commercial supply agreement. This initiative aims to reduce reliance on foreign sources, particularly China, which currently dominates the rare earth element supply chain.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies. The company’s vision is to become a leading advanced technology company providing metal separation products and services to the mining and mineral extraction industry. Through strategic partnerships, Ucore plans to disrupt China’s control of the North American rare earth element supply chain by developing heavy and light rare-earth processing facilities 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.
For further information, visit www.ucore.com. The full press release is available at https://ibn.fm/a2C7a.
This MOU marks a significant step toward establishing a secure domestic supply chain for rare earth magnets, which are critical for defense systems such as missile guidance, radar, and electric vehicle motors. By integrating upstream processing with downstream manufacturing, the partnership aims to accelerate the production of essential materials while reducing geopolitical vulnerabilities. The timeline for commercial supply starting in 2027 underscores the urgency and strategic importance of this collaboration.
