Critical Metals Signs 10-Year Rare Earth Supply LOI with Ucore for U.S. DoD Facility

Critical Metals Corp. has signed a 10-year offtake agreement with Ucore Rare Metals to supply up to 10,000 metric tons annually of heavy rare earth concentrate from the Tanbreez Project in Greenland to Ucore's U.S. government-funded processing facility in Louisiana. The concentrate will undergo hydro-metallurgical processing to produce high-purity rare earth oxides, essential for various high-tech and defense applications. This partnership aims to reduce dependence on China for rare earth elements, which are critical for national security and advanced manufacturing, especially amid current geopolitical tensions. Ucore's Louisiana facility, supported by the U.S. Department of Defense and state government, is expected to scale production from 2,000 tonnes per annum next year to 7,500 tonnes by 2028. Both companies emphasize their shared goal of bolstering Western supply chains and disrupting China's dominance in the rare earth sector. Despite Ucore's financial challenges, including losses and increasing debt, the collaboration represents a significant strategic move toward securing critical mineral supplies for the U.S.