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Ucore Meets with Senior Trump Administration Officials Regarding

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douginil   Tuesday, 07/03/18 03:36:46 PM
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Ucore Meets with Senior Trump Administration Officials Regarding US dependence on Chinese Rare Earths

July 3, 2018 – HALIFAX, NOVA SCOTIA – Ucore Rare Metals, Inc. (TSXV:UCU) (OTCQX:UURAF) (“Ucore” or the “Company”) is pleased to comment on recent activity in Washington, DC related to efforts to end dependence on Chinese-sourced critical rare earths and ensuring future domestic production.

During the week of June 25th, 2018, senior Ucore representatives met with senior Trump Administration and Congressional officials in Washington, D.C. to discuss American dependence on the Chinese supply of critical materials, and Ucore’s plans for a domestic Strategic Metals Complex (SMC) in Southeast Alaska. Discussions also included the viability of development of domestic REE supplies in the Appalachian Coal District.

“Near complete dependence on potentially unreliable foreign sources of rare earth materials remains a major national security vulnerability and one the Trump Administration is publicly committed to ending,” said Jim McKenzie, President and CEO of Ucore. “This vulnerability is also recognized in the U.S. Congress by the House of Representatives in its version of the 2019 National Defense Authorization Act (NDAA). As an example, Section 873 of the House NDAA prohibits the acquisition of sensitive materials, such as samarium-cobalt and neodymium-iron-boron magnets from non-allied foreign nations. If enacted into law, this requirement for a secure supply of rare earth magnets creates synergy with the forthcoming SMC construction by increasing demand for non-Chinese rare earth products.”


Read more at:
http://ucore.com/ucore-meets-with-senior-trump-administration-officials-regarding-us-dependence-on-chinese-rare-earths

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