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07/15/21 3:25 PM

#2016 RE: douginil #2014

$UURAF On Tuesday, June 8th, 2021, United States President Joe Biden released a review of US supply chain vulnerabilities pursuant to Executive Order 14017. The review shows that the US government will continue to invest in REE technologies and production capabilities, which could serve to benefit Ucore, its wholly owned subsidiary, Innovation Metals Corp. ("IMC"), and their proprietary RapidSXT separation technology for the separation of both light REEs ("LREEs") and heavy REEs ("HREEs"). Key recommendations include:

Encourage the development and adoption of 21st century standards for the extraction and processing of critical minerals;

US $50 billion to establish a Supply Chain Resilience Program to monitor and forecast vulnerabilities and promote industry partnerships;

A "trade strike force" to identify and counter unfair foreign trade practices, the first action of which will be to investigate unfair trade practices surrounding neodymium (NdFeB) permanent magnets;

Reducing the time, cost, and risk of permitting for critical mineral mining projects; and

Using the US government's buying power and investment authorities to encourage the purchase of critical materials from secure and reliable domestic and allied sources. This includes:
Additional funding for the Defense Production Act ("DPA") Title III program to scale emerging technologies for critical materials and enable offtake agreements; and
Recapitalizing the National Defense Stockpile to better buffer against supply chain threats.