Ucore Rare Metals and Vulcan Elements Partner to Develop Domestic Rare Earth Magnet Supply Chain

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has executed a memorandum of understanding with Vulcan Elements Inc. to collaborate on developing a domestic rare earth magnet supply chain for defense and commercial applications. The agreement, dated March 16, 2026, outlines plans for Ucore to supply neodymium-praseodymium oxide and dysprosium oxides at commercial scale beginning in 2027.

The collaboration strategically links Ucore’s separation platform in Ontario and planned Louisiana Strategic Metals Complex with Vulcan’s North Carolina manufacturing operations. Both companies will work toward advancing production capabilities, technical specifications, and negotiating a longer-term commercial supply agreement. This partnership represents a significant step toward establishing North American independence in the critical rare earth magnet sector.

Ucore’s broader strategic vision includes disrupting the People’s Republic of China’s control of the North American rare earth element supply chain through near-term development of processing facilities in Louisiana, with subsequent facilities planned for Canada and Alaska. The company’s long-term development plans include its 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska. For further information about Ucore’s operations and strategic direction, investors can visit https://www.ucore.com.

The importance of this collaboration extends beyond commercial interests to national security considerations. Rare earth magnets are essential components in numerous defense applications, including guidance systems, communications equipment, and advanced weaponry. They are equally critical for commercial technologies such as electric vehicles, wind turbines, and consumer electronics. Currently, China dominates global rare earth processing and magnet manufacturing, creating strategic vulnerabilities for Western nations.

This memorandum of understanding represents a concrete step toward addressing supply chain vulnerabilities by creating an integrated North American solution from ore separation to finished magnet production. The collaboration between Ucore’s separation capabilities and Vulcan’s manufacturing expertise could establish a model for other critical mineral sectors seeking to reduce dependence on single-source foreign suppliers. The latest news and updates relating to UURAF are available in the company’s newsroom at https://ibn.fm/UURAF.

The timing of this announcement coincides with increasing government focus on securing critical mineral supply chains across Western nations. By establishing production timelines beginning in 2027, the partners are positioning themselves to meet anticipated demand from both defense contractors and commercial manufacturers seeking secure, traceable sources of rare earth materials. The success of this collaboration could influence broader industry efforts to reshore critical manufacturing capabilities and reduce geopolitical risks associated with concentrated supply chains.

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