Ucore Signs Heads of Agreement with Wyloo and Hastings to Secure Yangibana Feedstock

Core Viewpoint - Ucore Rare Metals Inc. has signed a non-binding Heads of Agreement with Wyloo Gascoyne Pty Ltd and Hastings Technology Metals Ltd to establish a North American rare earth supply chain, linking Australian feedstock from the Yangibana Project with Ucore's processing facility in Louisiana [1][3][5]. Agreement Details - The Heads of Agreement (HoA) was signed during the G7 Energy and Environment Ministers Meeting, emphasizing the collaboration between allied nations to secure a rare earth supply chain [3]. - The agreement aims to establish a long-term supply pathway for Yangibana rare earth concentrate, with a focus on evaluating hydrometallurgical processing options in the U.S., particularly in Louisiana [4][11]. - The HoA contemplates sourcing up to 37,000 tonnes per annum of Yangibana rare earth concentrate from the Stage 1 mine [11]. Strategic Benefits - The partnership is expected to de-risk the Yangibana Project and secure a pathway to a long-term offtake partner in North America, enhancing financing and commercial opportunities [5][11]. - The project aligns with the U.S.-Australia Framework for Securing Supply in Critical Minerals, reinforcing cooperation on critical minerals and expanding non-China sources of rare earth elements [11]. - Ucore's Louisiana facility is set to be one of the first in the U.S. capable of producing separated rare earth oxides at a commercial scale, supporting commissioning in the second half of 2026 [11]. Company Background - Ucore is advancing rare earth separation and refining through its Louisiana Strategic Metals Complex and has received a total of US$22.4 million in funding from the U.S. Department of Defense [8]. - Hastings Technology Metals is focused on developing the Yangibana Joint Venture, which targets significant production of rare earth concentrate and mixed rare earth carbonate [9][12].