Ucore and Vulcan Forge US Rare Earth Magnet Supply Chain

Ucore Rare Metals (TSXV:UCU,OTCQX:UURAF) has taken another step toward building a North American rare earth magnet supply chain, signing a memorandum of understanding with Vulcan Elements aimed at securing domestic production for both defense and commercial applications.

Under the agreement, Ucore will supply neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides to Vulcan, beginning with initial samples in 2026 and progressing toward a full commercial supply arrangement by 2027.

The deal links Ucore’s planned Louisiana Strategic Metals Complex with Vulcan’s expanding manufacturing footprint in North Carolina, effectively creating an integrated, mine-to-magnet supply chain within the United States.

The move comes amid intensifying efforts by Western governments to reduce reliance on China, which currently dominates both rare earth processing and magnet manufacturing. Rare earth magnets are essential components in a range of strategic technologies, including electric vehicles, wind turbines and advanced defense systems.

Vulcan is scaling its capabilities rapidly, backed by a US$1.4 billion partnership with the US government to develop what it describes as the largest rare earth magnet facility outside China. The planned site in North Carolina is expected to deliver up to 10,000 metric tonnes of annual magnet manufacturing capacity, positioning the company as a key player in reshoring critical supply chains.

For Ucore, the agreement builds on recent momentum tied to its separation technology and government support.

The company received an US$18.4 million award from the US Department of Defense in 2025 to advance processing capabilities at its Louisiana facility, while continuing to operate a commercial demonstration plant in Kingston, Ontario. The collaboration with Vulcan provides a clear downstream pathway for its refined materials, bridging demonstration-scale output with commercial production.

“Vulcan is building exactly the kind of downstream magnet platform that the United States needs,” said Ucore CEO Pat Ryan, adding that the partnership “anchors a resilient allied rare earth magnet supply chain.”

Vulcan CEO John Maslin described the agreement as a milestone, emphasizing its role in rebuilding a domestic industry critical to both economic growth and national security.

Beyond the immediate supply arrangement, the companies plan to work through technical specifications, purity standards and production protocols over the coming year — key steps toward establishing a reliable, scalable supply chain.

The partnership reflects a broader trend across North America, where governments and industry are increasingly prioritizing domestic production of critical minerals and advanced materials.

With both upstream processing and downstream manufacturing now being developed in tandem, the Ucore-Vulcan collaboration highlights how integrated approaches may accelerate the region’s push to compete in the global rare earths market.