HOUSTON, June 15 (Argus) - Ucore Rare Metals, an American rare earth developer, has established a strategic partnership with Sumitomo Corporation of Americas (SCOA) to develop a diversified rare earth supply chain.
Sumitomo stated today that under the agreement, the two companies will collaborate to purchase rare earth raw materials for Ucore's Louisiana strategic metal complex and develop the purchasing and development of separated rare earth products.
This partnership will focus on selected medium and heavy rare earth elements for high-performance magnets and advanced materials applications in Japan, while retaining additional processed raw materials for the North American and allied markets.
SCOA will act as Ucore's distribution partner and sell designated separated rare earth products to selected customer groups in Japan and other industries.
Sumitomo agreed in 2023 to be the exclusive distributor of praseodymium and neodymium oxides produced by MP Materials, an American rare earth producer.
This Japanese company established Summit Atom Rare Earth Company (SARECO) with the national atomic subsidiary of Kazakhstan in 2012 to produce mixed rare earth carbonates containing high levels of dysprosium and neodymium.
Australian company Lindian Resources acquired 51% of SARECO in March. Lindian will supply rare earth raw materials from the Kangankunde mine in Malawi to this factory in Kazakhstan.
SARECO collaborates with Japanese company Shin-Etsu Chemical to separate rare earths and produce high-purity products.
