Ucore North America, a subsidiary of Ucore Rare Metals Inc., will invest $75 million to establish North America’s first modern technology rare earth element separation and purification facility in Alexandria, reports Business Facilities.
Located at England Airpark, the Louisiana Strategic Metals Complex will establish a U.S.-based supply chain of rare earth oxides required to manufacture electric vehicle (EV) motors, wind turbine generators and a variety of consumer goods including smart phones and power tools.
Ucore expects to create 100 new jobs with an average annual salary of more than $50,000 at the facility. Upgrades to the 80,800-square-foot complex are slated to begin this year with operations estimated to start in early 2025. The company anticipates it will be able to process 7,500 metric tons per year of total rare earth oxides at the site by 2027. Read the entire story.