Senator Murkowski Advances Federal Rare Earth Bill

Ucore Rare Metals reports that Senator Lisa Murkowski introduced a federal bill to address the current rare earth metals supply crisis in the US, and comments on Ucore’s Bokan-Dotson Ridge heavy rare earth project.

Senator Murkowski’s Rare Earth Supply-Chain Technology and Resource Transformation (RESTART) Act of 2010 targets the reestablishment of a competitive domestic rare earth mining, processing and refining industry to support the growth of clean technology, manufacturing and the defense sectors. Senator Murkowski’s bill, submitted to the Committee on Energy and Natural Resources, is a companion to legislation introduced in the House by Representative Mike Coffman (R-Colorado) in March, 2010.

Senator Murkowski says:

“Ucore Uranium is continuing exploration of a large rare earth deposit found near Bokan Mountain in Alaska, about 37 miles from Ketchikan.”  “Ucore’s new Alaska subsidiary, Rare Earth One LLC, has been working to study the deposit on Dotson Ridge at Bokan Mountain since 2007. The U.S. Bureau of Mines more than 20 years ago estimated the site contains at least 374 million pounds of recoverable rare earths, which is more than enough to break China’s stranglehold on the market and protect America’s access to the rare earths that are vital to the production of cutting-edge technologies in this country.”

For complete news release, click here.