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Ucore Rare metals enters strategic MOU with Kentucky River Properties
Ucore Rare Metals Inc. announces that the company has entered a MOU agreement to form a joint venture with private company Kentucky River Properties LLC. This agreement is intended to enable Ucore to access and process rare earth materials from the Appalachian Coal Region of Northeastern Pennsylvania.
Jim McKenzie, President and CEO of Ucore commented:
“We’re excited to be partnering with KRP, a company with an important ongoing role in the economic success of the American coal sector. The significant magnitude of KRP’s land holdings and critical metals content spanning their coal mines, is the domestic REE resource that the US has been actively seeking in recent years. The USDOE has already invested heavily in the study of this significant REE mineralization, setting out the ACR as an American asset prospectively capable of liberating the US from dependence on China for critical REE. We look forward to developing this remarkable feedstock and furnishing it to American growth industries in a timely and efficient manner.”