en.Wedoany.com Reported - Ucore Rare Metals, a company listed on the TSX Venture Exchange in Canada, has signed a strategic cooperation framework agreement with Sumitomo Corporation of Americas (SCOA) to establish a diversified rare earth supply chain in North America and allied markets.

Under the agreement signed on June 10, the two parties will collaborate on sourcing rare earth raw materials required for Ucore's Strategic Metals Complex (SMC) in Louisiana and advance the downstream sales development of separated rare earth products. The cooperation focuses on medium and heavy rare earth elements used in high-performance magnets and advanced material applications, primarily targeting the Japanese market, while retaining raw materials for subsequent processing in North America and allied markets.

Ucore stated that this partnership aims to integrate Ucore's RapidSX technology platform, developed at its Louisiana rare earth refinery, with SCOA's global procurement, logistics, and market access capabilities (including in Japan) to support the construction of a more diversified rare earth supply chain. Additionally, the two parties plan to formally participate as project partners in Ucore's previously announced "Global Partnerships Initiative" in collaboration with the Canadian government.

Ucore is advancing its rare earth processing platform in North America, including the planned development of the SMC in Louisiana and ongoing commercial demonstration projects with the Canadian government. The statement noted that SCOA has long-standing experience in the global rare earth industry, covering procurement, trading, and supply chain development.

Under the framework, SCOA will serve as Ucore's distribution partner, responsible for selling designated separated rare earth products to specific customer groups in Japan and other industrial application areas mutually agreed upon by both parties. The two sides will also jointly explore cooperation opportunities along the rare earth value chain, with specific collaborations to be conducted based on mutually agreed commercial terms and existing business arrangements.

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