Home Advantage: How Domestic REE Supply Is Supercharging North American Companies

NetworkNewsWire Editorial Coverage

NEW YORK, June 9, 2023 /PRNewswire/ — The global outcry for ditching fossil fuels in favor of cleaner, Earth-friendly technologies and sustainability is reaching deafening levels. One problem is that North America has backed itself into a corner by allowing China to take a dominant position in the supply of rare earth oxides. These elements are irreplaceable in the production of permanent magnets, which are, in turn, irreplaceable in products key to the green energy transition, such as windmills and electric vehicles. The United States and Canada have both been vocal about their desire to end their reliance upon the East and aggressively establish domestic supply chains of the critical rare earth elements (REEs), which hold the key to climate-change and sustainability goals. Further, the concentration of supply coming from China means that political tensions, trade disputes or other geopolitical issues are constantly looming, posing threats to supply chains and sustainability objectives. A domestic supply chain averts those risks, while also providing cost stability and supply resilience, stimulating job creation and economic growth, and even protecting national security. Only a handful of leaders are spearheading innovation to catalyze these national initiatives, and Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) (Profile) with its transformative technology, RapidSX(TM), is one of them. While Ucore is a standout from an upstream view, other companies, such as Tesla Inc. (NASDAQ: TSLA), General Electric Company (NYSE: GE), General Motors Company (NYSE: GM) and Ford Motor Company (NYSE: F) are downstream companies well positioned to capitalize on all the benefits of a domestic supply chain and which are equally committed to national security and global sustainability.

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