Blockchain Registration Transaction Record

Ucore Secures C$36.3M for Rare Earth Facility to Counter China's Dominance

Ucore Rare Metals receives C$36.3M Canadian funding for Ontario rare earth processing facility to reduce dependence on China's 90% control of global processing capacity.

This development matters because rare earth elements are crucial for modern technologies including electric vehicles, wind turbines, smartphones, and defense systems. Currently, China controls approximately 90% of global rare earth processing, creating significant supply chain vulnerabilities for Western nations. Ucore's Kingston facility represents a strategic move toward North American rare earth independence, reducing geopolitical risks and ensuring stable access to these critical materials. For consumers, this means greater security in the production of clean energy technologies and electronics, while for industries, it provides alternative supply chains less susceptible to international trade tensions. The processing of samarium and gadolinium specifically supports permanent magnet manufacturing essential for electric motors and military applications, making this development foundational for both economic competitiveness and national security.