Ucore and Vulcan forge US rare earth supply chain for critical magnets
Ucore Rare Metals has teamed up with Vulcan Elements to build a fully domestic rare earth supply chain in the US. The two companies signed a memorandum of understanding to produce and refine critical minerals for high-performance magnets. The deal aims to reduce reliance on foreign sources while boosting local manufacturing capacity. Under the agreement, Ucore will supply Vulcan with neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides starting in 2026. These materials are essential for producing powerful magnets used in defence, electric vehicles, and renewable energy technologies. Vulcan, in turn, plans to ramp up its magnet production, targeting up to 10,000 metric tonnes of annual capacity.
The partnership follows Ucore's US$18.4 million award from the US Department of Defense in 2025, which supported the development of its Louisiana-based refining facility. Over the next year, both companies will finalise technical details, including purity standards and production protocols. No major regulatory or technical hurdles have been reported for the supply chain between Louisiana and Vulcan's North Carolina plant. Ucore CEO Pat Ryan highlighted the deal as a key step in securing a stable, allied supply chain for rare earth magnets. Vulcan CEO John Maslin called it a turning point for rebuilding a domestic industry vital to economic and national security. The collaboration aligns with a growing push across North America to strengthen local production of critical minerals.
The agreement provides Ucore with a direct route to market for its refined materials. Vulcan's expanded manufacturing capacity will support industries dependent on high-performance magnets. Together, the companies aim to establish a fully integrated, mine-to-magnet supply chain within the US by 2026.
