UCore Rare Metals Supports House Armed Services Committee Dysprosium Stockpile Intiative

Ucore Rare Metals Inc. (TSXV:UCU) announced that support the legislative proposal being presented to the Armed Services Committee of the U.S. House of Representatives, which urges the U.S Department of Defense to seek alternative supplies of  high priority strategic rare earth elements, in an effort to diffuse the Chinese monopoly on global supply.

As quoted in the press release:

The legislation would authorize the expenditure of USD$41 million by the US government to stockpile six critical metals. Two of these metals are the heavy rare earth elements dysprosium (Dy) and yttrium (Y). Dy and Y comprise a significant percentage of the heavy REE content at Ucore’s Bokan deposit in Southeast Alaska. According to a recent report issued by the US Geological Survey (USGS), the Bokan deposit is now recognized the most significant heavy REE deposit on US soil.

Ucore’s President and CEO, Jim McKenzie, said:

We’re pleased that the House Armed Services Committee is addressing the impending crisis in reliable availability of critical heavy REE’s to the US Department of Defense supply chain. In this context, Ucore and its Bokan deposit can play a pivotal role addressing the need for domestic heavy REE input components.

To view the whole press release, click here.