Amid REE Market Supply Interruptions, Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) Presses Forward With Commercial Processing Plant Plans
Ucore Rare Metals Inc. is moving forward with a rare earth element (“REE”) processing facility in Louisiana that will help to establish an American base for the REE supply chain The REE supply chain is currently almost exclusively controlled by the People’s Republic of China thanks to China’s responsibility for 36.7 percent of the world’s REE reserves, 63 percent of REE mining capacity and more than 90 percent of REE refining capacity REE price increases this month as a result of temporary production shutdowns in Myanmar and China underscore the market’s sensitivity to supply interruptions resulting from governmental policies Ucore’s…