Ucor 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 with the aim of securing domestic production for both defense and commercial applications.
Below agreementUcor will supply neodymium-praseodymium (NdPr) and dysprosium (Di) oxides to Vulcan, beginning with initial samples in 2026 and progressing to a full commercial supply arrangement by 2027.
The deal connects Ucor’s planned Louisiana Strategic Metals Complex with Vulcan’s expanded manufacturing footprint in North Carolina, effectively creating an integrated, mine-to-magnet supply chain within the United States.
The move comes amid growing efforts by Western governments to reduce dependence 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.
Vulkan is rapidly expanding its capabilities with the support of US$1.4 billion partnership Together with the US government it will develop what it describes as the largest rare earth magnet facility outside China. The planned site in North Carolina is expected to provide up to 10,000 metric tons of annual magnet manufacturing capacity, positioning the company as a major player in revitalizing critical supply chains.
For Ucor, the agreement builds on recent momentum associated with its separation technology and government support.
The company received a Prize of US$18.4 million from the U.S. Department of Defense in 2025 to advance processing capabilities at the Louisiana facility, while a commercial demonstration plant will continue to operate in Kingston, Ontario. The collaboration with Vulcan provides a clear downstream pathway for its refined materials, linking demonstration-scale production with commercial production.
“Vulcan is building exactly the kind of downstream magnet platform the United States needs,” said Pat Ryan, CEO of Ucor. He said the partnership “fosters a flexible collaborative rare earth magnet supply chain.”
Vulcan CEO John Maslin hailed the agreement as a milestone, emphasizing its role in rebuilding a domestic industry critical to both economic growth and national security.
Beyond immediate supply arrangements, the companies plan to work through technical specifications, purity standards and production protocols in the coming year – important steps toward establishing a reliable, scalable supply chain.
The partnership reflects a broader trend across North America, where governments and industries are increasingly prioritizing domestic production of critical minerals and advanced materials.
With both upstream processing and downstream manufacturing now being developed simultaneously, the Eucor-Vulcan collaboration highlights how an integrated approach can accelerate the sector’s pace to compete in the global rare earth market.
