Welcome!

News Feed Item

Ucore Comments on Escalating HREE Supply Concerns in US Capitol

HALIFAX, NOVA SCOTIA -- (Marketwired) -- 01/13/14 -- Ucore Rare Metals Inc (TSX VENTURE: UCU)(OTCQX: UURAF) ("Ucore" or "the Company") is pleased to comment on multiple recent initiatives in Washington to address the increasing lack of availability of rare earth products and magnet-making materials for domestic military and defense applications.

Concerns regarding the withdrawal of ongoing supplies of Critical Rare Earth Oxides (CREO's) produced almost exclusively in China and consumed by US military contractors, has attracted a number of current legislative initiatives.

The National Defense Authorization Act is currently on the Senate Legislative Calendar for FY 2014. The Act proposes to authorize the National Defense Stockpile Manager to acquire several materials determined to be "strategic and critical materials required to meet the defense, industrial and essential civilian needs of the United States." Dysprosium and yttrium, metals included in the production plan at Ucore's Bokan facility in South East Alaska, are among the materials to be acquired under the new Act, using up to US$41 million of the National Stockpile Transaction Fund.

In January 2014, it was disclosed that the Pentagon had temporarily waived laws banning the use of Chinese-built components in U.S. weaponry in 2012 and 2013. The waiver, which has attracted significant media attention, was for the purpose of keeping the US$392 Billion F-35 Fighter Program on schedule. Specifically, Chinese built magnets were used during the last 24 months in violation of the import restrictions, in order to avoid further delays with the delivery of the jets. An investigation has now been ordered into three instances involving the use of prohibited Chinese components in the F-35 program. The investigation, authorized by US lawmakers, is being undertaken by the Government Accountability Office (GAO), and is expected to be completed by March 1, 2014.

The Critical Minerals Policy Act, submitted by Senators Lisa Murkowski (R - AK), Ron Wyden (D - Ore), Mark Udall (D - Col.), Dean Heller (R - Nev.) and 13 others, was introduced in late 2013. The Act intends to prevent further supply shocks of critical materials and reduce US dependence on foreign sources through the revitalization of a domestic supply chain, including domestic production from near term facilities such as the Bokan facility in Alaska. The bipartisan bill outlines mineral-specific actions for several elements, including yttrium and scandium, materials scheduled to commence production at the Bokan project by as early as 2017.

The FY 2014 Senate Interior Appropriations Bill is in Continuing Resolution status until January 15, 2014. Senator Murkowski has now added language to the Bill re-iterating the US Forest Service's obligation to provide reasonable access for mining within the Tongass National Forest, of direct benefit to the Bokan project, which houses material quantities CREO's important to defense systems, such as dysprosium and yttrium.

"We're pleased with the ongoing support that the Bokan project continues to receive by federal lawmakers," stated Jim McKenzie, President & CEO of Ucore. "All indicators are that the Bokan facility will be the first and only domestic producer of dysprosium on US soil when on-site production commences, thereby alleviating an issue under increasing attention in Washington."

In October 2012, Ucore announced that the United States Department of Defense (DOD) had contracted with the Company to conduct a mineralogical and metallurgical study at Bokan. The program, managed under the Defense Logistics Agency (DLA) has focused on the prospective development of Bokan, America's highest grade heavy rare earth resource disclosed under NI 43-101 regulations, to meet the requirements of the Department of Defense for an ongoing supply of critical heavy REE's. Under the agreement, Ucore has provided DOD with the most up-to-date data on the Bokan project's mineralogy and proprietary Solid Phase Extraction (SPE) nanotechnology research.

Bokan Mountain is the richest domestic source of three heavy rare earth elements -dysprosium, terbium, and yttrium - which are critical to several advanced weapon systems, such as stealth helicopters and precision-guided weapons. Both dysprosium and yttrium are critical to multiple US defense systems. Dysprosium is a crucial ingredient in neodymium-iron-boron magnets as a means of increasing coercivity, applications of which include aircraft actuator motors in flight control systems, landing gear, and munitions. Yttrium is critical to the defence industry applications such as the manufacture of various ceramic and glass materials required in jet engines. The Joint Strike Fighter (JSF) development program relies on both Dy and Y as critical input components.

Currently, all of the world's commercially-available heavy rare earth elements are produced in China. Ongoing production and export quotas have limited the availability of these materials to global markets. According to a March 2012 report from DOD, yttrium, terbium, and dysprosium are all considered to be "critical to the production, sustainment, or operation of significant United States military equipment," as well as "subject to interruption of supply, based on actions or events outside the control of the government of the United States." Yttrium, in particular, was shown to be in deficit when considering projected future domestic supply.

Cautionary Notes

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

About Ucore Rare Metals Inc.

Ucore Rare Metals Inc. is a development-phase mining company focused on establishing rare metal resources with near term production potential. With multiple projects across North America, Ucore's primary focus is the 100% owned Bokan - Dotson Ridge REE property in Alaska. The Bokan - Dotson Ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in developing near term production facilities and limiting the capital costs associated with mine construction.

The Bokan property is particularly enriched with heavy rare earth elements, including the critical elements dysprosium, terbium and yttrium. Approximately 40% (by weight) of the rare earth elements contained on the Dotson Ridge property are heavy rare earth elements, as disclosed in the Company's NI43-101 resource estimate technical report, filed on April 21st, 2011. The resource was completed by R. J. Robinson, a consultant from Aurora Geosciences.

Contacts:
Ucore Rare Metals Inc.
Mr. Jim McKenzie
President and Chief Executive Officer
(902) 482-5214
www.ucore.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...