RETRANSMISSION: Ucore Teams with Materion on American Heavy REE Production Bid
December 24 2019 - 7:00AM
Ucore Rare Metals Inc. (TSXV: UCU)
(OTCQX: UURAF) (“Ucore” or the “Company”) is pleased to announce
that it has partnered with Materion Corporation of Ohio (NYSE:
MTRN) (“Materion”) to respond to an open U.S. Government
solicitation for a strategic assessment of the domestic heavy rare
earth element (“Heavy REE” or “HREE”) market, in conjunction with
an engineering evaluation of the viability of HREE separation
capabilities at various sites within the United States.
Ucore and Materion have signed a memorandum of
understanding to establish a rare earth consortium (the
“Consortium”) for the purpose of preparing and submitting a bid to
the U.S. Industrial Base Analysis and Sustainment
program (“IBAS”). The Consortium expects that its
bid will represent the only Heavy REE supply chain option to be
fully sourced and controlled within the U.S. Drawing upon the
established history of its member companies, this Consortium offers
extensive critical metals experience, and a secure avenue for the
U.S. Federal Government to invest in a domestic HREE supply chain,
including industrial plant design, construction, operations
management and financing.
“Ucore and Materion together offer the U.S.
Federal government a single-source solution to meet the urgent need
for a domestic HREE supply chain,” said Ucore President & CEO
Jim McKenzie. “Ucore’s broad experience in the REE technology
markets and comprehensive work in analyzing multiple separation
technologies and feedstock sources, along with the significant
financial support of the State of Alaska, make us a natural choice
for domestic HREE development. Materion’s extensive background in
U.S. Government contracts, together with more than 60 years’
experience in advanced solvent extraction [“SX”] technologies and
existing sales presence across American advanced materials markets,
makes for an unparalleled partner for this important
initiative.”
“Materion is pleased to team with Ucore to bid
on this strategic project for the United States,” said Materion
President of Performance Alloys and Composites, Clive Grannum.
“This initiative complements Materion’s existing relationships
across the U.S. Government for critical materials supply, most
notably our beryllium mining, separation facility and metal
processing operations in Utah and Ohio. Entry into the American
HREE market also leverages Materion’s well-established supply
channels and dedicated customer base. We look forward to exploring
alternatives for a domestic, multi-stage solution to America’s
increasing need for these strategically important metals.”
“This Consortium represents a unique value
proposition to the U.S. Government,” said Jeff Green, President of
J.A. Green & Company, a Washington D.C. based government
relations firm with specialized knowledge of defense contracting.
“With the decades of experience in strategic metals, this
Consortium is well-positioned to evaluate and implement a domestic
HREE infrastructure. Beyond the core members, the team will benefit
from the involvement of internationally known advisors such as
Solvay of Belgium for deployment of SX
reagents, SGS of Canada for
metallurgical consulting expertise, and American engineering firm
Mech- Chem for plant configuration and design.
Together, the team is well qualified to devise a commercially
sustainable HREE production regime for the U.S.”
Pursuant to a successful bid under the IBAS
program, Ucore and Materion have agreed to jointly conduct a
strategic assessment of the domestic HREE market and an engineering
evaluation of related separation capabilities within the United
States. Such an evaluation will consider the viability of multiple
U.S. and/or U.S. allied rare earth element (“REE”) feedstock
sources. Ucore, through its U.S. subsidiary, Landmark Alaska L.P.,
will be the project manager of the initiative, with Materion
providing metallurgical processing, supply chain design, and
advisory functions.
About Ucore
Ucore Rare Metals is a company focused on rare
and critical metals resources, extraction and beneficiation
technologies with near term potential for production, growth, and
scalability. The Company has a 100% ownership stake in the
Bokan-Dotson Ridge Rare Earth Project. On March 31, 2014, Ucore
announced the unanimous support of the Alaska State Legislature for
Senate Bill 99 (2014), which authorized the AIDEA to issue up to
USD $145 million in bonds for the infrastructure and construction
costs of the Bokan-Dotson Ridge Rare Earth Project. Ucore’s vision
and plan is to transition to become a leading advanced technology
company that provides mineral separation products and services to
the mining and mineral extraction industry.
For further information, please contact Mr. Jim
McKenzie, President & CEO of Ucore Rare Metals Inc. at: +1
(902) 482-5214 or visit https://www.ucore.com.
About Materion
Materion Corporation is headquartered in
Mayfield Heights, Ohio. The Company, through its wholly owned
subsidiaries, supplies advanced materials to global markets. Our
unique product portfolio includes high performance alloys,
beryllium products, clad metal strip, composite metals, ceramics,
inorganic chemicals, microelectronics packaging materials,
precision optics, thin film coatings and thin film deposition
materials.
Learn more about Materion at (https://materion.com/About)
Investor Contact:Steve Shamrock
216-383-4010stephen.shamrock@materion.com
Media Contact:John McCloskey
216-218-8305john.mccloskey@materion.com
Cautionary Notes
This press release includes certain statements
that may be deemed “forward-looking statements”. All statements in
this release (other than statements of historical facts) that
address future business development and/or acquisition activities
(including any related required financings), timelines, events or
developments that the Company expects, are forward looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance or results and actual results or developments
may differ materially from those in forward-looking statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined by the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Ucore Rare Metals (TSXV:UCU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ucore Rare Metals (TSXV:UCU)
Historical Stock Chart
From Apr 2023 to Apr 2024