Ucore Rare Metals has secured a multi-decade lease for an 80,800-square-foot brownfield facility on a 10.7-plus acre industrial parcel for the development of its first commercial rare earth element (REE) processing facility.
The selected site for the Louisiana Strategic Metals Complex (LA-SMC) is located at the England Airpark complex in Alexandria, Louisiana. The LA-SMC will process 2,000 tonnes per annum of total rare earth oxides by the first half of 2025, expanding to 5,000 tpa by 2026, and 7,500 tpa by 2027.
The Greater Alexandria Economic Development Authority has approved a $360,000 grant to England Airpark to support the project’s development by providing lease assistance over the first two years.
“This lease structure allows us time to get to a revenue position and to simultaneously cultivate developing opportunities for planned expansion and prospective joint ventures for the adjacent 50 acres of industrial property as we truly seek to establish a comprehensive and integrated rare earth supply chain in North America,” said Mike Schrider, P.E., Ucore vice president and chief operating officer.
Ucore plans subsequent strategic complexes in Canada and Alaska and the longer-term development of its 100% controlled Bokan-Dotson Ridge heavy REE project on Prince of Wales Island in southeast Alaska.
Source: Ucore Rare Metals