Ucore Rare Metals and the Sumitomo Corporation of Americas (SCOA) have signed a strategic cooperation framework to develop a diversified rare earth supply chain in North America and allied markets.
Signed on 10 June 2026, the agreement outlines joint efforts in sourcing rare earth feedstock for Ucore’s Louisiana Strategic Metals Complex (SMC) and developing downstream offtake opportunities for separated rare earth products.
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The scope of the collaboration covers selected middle and heavy rare earth elements (MREEs and HREEs), which are essential for high-performance magnets and advanced materials, particularly for industrial uses in Japan.
The arrangement is also intended to preserve rare earth feedstock for further processing for other North American and allied markets.
Ucore aims to integrate its RapidSX technology platform at its Louisiana SMC refinery with SCOA’s global sourcing, logistics and Japanese market access to strengthen the regional rare earth supply network.
The companies plan to formally cooperate in Ucore’s Global Partnership Initiative, which was previously announced as a joint initiative with the Government of Canada.
SCOA will act as Ucore’s distribution partner for certain separated rare earth materials to selected Japanese customers and other agreed industrial applications.
The companies also plan to evaluate cooperative opportunities across the rare earth supply chain, subject to commercial terms and existing business relationships.
Ucore is progressing with its rare earth processing operations in North America, including the planned Louisiana SMC and related demonstration projects supported by the Government of Canada.
In the long term, the company aims to develop its Bokan-Dotson Ridge heavy rare earth project on Prince of Wales Island in south-east Alaska, US.
SCOA has established experience in rare earth sourcing, trading and supply chain activities globally.
