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 aims to reduce reliance on Chinese-controlled supply chains by linking Ucore's separation platform in Ontario and its planned Louisiana Strategic Metals Complex with Vulcan's manufacturing operations in North Carolina.
Under the MOU, Ucore plans to supply neodymium-praseodymium (NdPr) oxide and dysprosium (Dy) oxide at commercial scale beginning in 2027. The companies will work together to advance production, define technical specifications, and negotiate a longer-term commercial supply agreement. This collaboration is a strategic step toward establishing a secure North American supply chain for rare earth magnets, which are critical for defense systems, electric vehicles, and renewable energy technologies.
The announcement follows Ucore's broader strategy to disrupt China's dominance in the rare earth element (REE) supply chain. Ucore's vision includes 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 more details, the full press release is available at https://ibn.fm/a2C7a.
Ucore Rare Metals is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies. The company aims to become a leading advanced technology company providing best-in-class metal separation products and services. Ucore is listed on the TSXV under the symbol "UCU" and on the OTCQX Best Market under "UURAF." Additional information can be found at www.ucore.com.
Vulcan Elements Inc. brings expertise in rare earth magnet manufacturing, potentially enabling the production of finished magnets for defense contractors and commercial users. The MOU signifies a coordinated effort to build a vertically integrated supply chain from mining and processing to magnet production within North America.
This partnership is important because it addresses a critical vulnerability in the U.S. defense and technology sectors, which currently rely heavily on imported rare earth materials. By developing domestic processing and manufacturing capabilities, Ucore and Vulcan aim to enhance supply chain security and support the growing demand for rare earth magnets in clean energy and defense applications.
