Ucore releases update on rare earths refining project
Ucore Rare Metals Inc. [UCU-TSXV, UURAF-OTQX] said it is advancing engineering and commercialization planning to scale a first-of-its-kind RapidSX commercial rare earth refining facility dedicated to samarium (Sm) and gadolinium (Gd) in Kingston, Ont. The project is being advanced in parallel with Ucore’s ongoing scale-up toward a Strategic Metals Complex (SMC) in Alexandria, Louisiana.
The move comes after the company recently said it has been conditionally approved for a Government of Canada contribution of up to $36.3 million for their “Pathway to Samarium and Gadolinium Security” Project. This includes the conditional approval of a non-repayable contribution of up to $26.3 million from Natural Resources Canada (NRCan) through its Global Partnerships Initiative (GPI) Program and up to $10 million from FedDev Ontario, to demonstrate and scale-up a first of a kind commercial processing facility in Kingston, Ontario. The facility would be dedicated to the refining of critical rare earth elements samarium and gadolinium. “Once approved, this funding will address a critical gap in North American defense and technology supply chains,’’ the company said in a press release.
Fielded U.S. and allied weapon platforms, including the F-35 fighter jet, precision-guided missile guidance and actuation systems, and long-range cruise missiles depend on samarium and gadolinium-linked rare earth inputs where performance, reliability and heat tolerance are mission critical.
The company said Samarium and gadolinium availability is tightening into a defense-industrial base vulnerability. It said China’s export licensing controls implemented in April 2025 on certain medium and heavy rare earth items continue to constrain Western defense and aerospace supply chains and complicate qualification of alternative sources.
Ucore, has rights to a transformational rare earth separation technology, RapidSX. The company is currently undertaking heavy and light rare earth element (REE) separation at demonstration scale at its RapidSX Commercialization and Demonstration Facility in Kingston. Participants in this project include the U.S. Department of Defense and Canadian Government as Ucore implements its technology transfer plan from demonstration scale to commercial scale at its prospective Louisiana SMC.
The plan includes disrupting China’s control of the North American rare earth element (REE) supply chain via near term development of a heavy and light rare earth processing facility in Louisiana, subsequent SMCs in Canada and Alaska and the development of Ucore’s Bokan-Dotson Ridge Heavy REE project in Alaska.
In a press release Friday, Ucore said its engineering team is progressing commercial plans for dedicated production of SM and Gd rare earth oxides. At Kingston CDF, process flow sheets are being refined, contractor factory acceptance testing is underway to optimize the RapidSX computerized, column-based separation platform, and multiple feedstocks, including ionic clays, have been processed to evaluate separation behaviour and chemical “splits” achieved between SM and Gd as part of the production work-up.
On Friday, Ucore shares rose 3.3% or 20 cents to $6.30. The shares trade in a 52-week range of $13.07 and 67 cents.