Ucore Will Supply Rare Earth To VAC's US Factory.

HOUSTON, November 3rd (Argus) - Canadian rare earth producer Ucore Rare Metals has agreed to supply rare earth oxides to Vacuumschmelze (VAC), a German magnet manufacturer, at its new plant in the United States.
Ucore announced on Monday that it will provide VAC and its subsidiary eVAC with the separation of rare earth oxides, including neodymium, praseodymium, terbium, dysprosium, samarium and gadolinium.
Ucore will supply materials from its planned strategic metal complex plant in Louisiana and the commercial demonstration facility in Ontario to eVAC's magnet manufacturing plant in Sumter County, South Carolina.
The two parties will finalize the long-term agreement and commercial terms within nine months.
Ucore previously signed an agreement with Australia's Metallium to potentially provide rare earth element raw materials for its Louisiana metal complex plant. The company also signed a non-binding purchase agreement with US mining developer Critical Metals to supply 10,000 tons of rare earth concentrate annually.