Ucore Rare Metals to start output at Louisiana plant in May; shares up

Ucore Rare Metals

16/07/2025 15:24

** Shares of Canada-based Ucore Rare Metals UCU.V rise 8.2% to C$1.57

** Company aims to start producing rare earth elements at new Louisiana facility next May, Bloomberg News reports

** UCU has been able to move ahead with processing at bigger scale after securing site designated as foreign trade zone, report adds

** Company had received $18.4 million from U.S. Defense Department for the first of four phases of construction, it says

** UCU aims to produce as much as 3,000 tons of rare earths next year and reach 12,000 tons by 2027 when entire plant is finished

** Including session's moves, stock up 110.7% YTD

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com;))