Ucore partner acquires Thailand processing plant to challenge China

Halifax-based Ucore Rare Metals (TSXV: UCU) applauded its partner Hastings Technology Metals Limited's acquisition of a fully-permitted rare earth processing facility in Thailand, viewing the move as a step toward building a Western-controlled supply chain.

Hastings partnered with Wyloo to buy the hydrometallurgical mixed rare earth chloride (MREC) production plant. The facility will help the companies process third-party monazite feedstock before they develop their main Yangibana Project in Australia.

The acquisition advances previous discussions between Ucore and the Yangibana partners about supplying rare earth concentrate to Ucore's Strategic Metals Complex under development in Louisiana. The companies signed a non-binding agreement earlier to explore a long-term supply arrangement.

Ucore Chairman and CEO Pat Ryan sees the Thailand plant as strategic momentum for the partnership's broader goals.

"This is a strong and strategic move by Hastings and Wyloo. Establishing early monazite processing capability adds momentum to the broader Yangibana development pathway and supports the availability of the supply chain we are working to build together. We look forward to continuing to advance our discussions and moving toward a definitive agreement," Ryan commented.

The companies continue working together to align commercial terms, product specifications, and project timelines as they move from preliminary discussions toward a definitive supply agreement.

Ucore focuses on connecting upstream mining with its developing midstream processing capabilities in Louisiana. The company aims to create a fully integrated Western rare earth supply chain that spans from mine extraction to refined oxide production.

The strategy targets disrupting China's control over North America's rare earth element supply chain through near-term development of processing facilities in Louisiana, with plans for additional complexes in Canada and Alaska. Longer-term plans include developing Ucore's Bokan-Dotson Ridge project in Southeast Alaska.

More information is posted at www.Investors.ucore.com