[SMM Flash: US Critical Metals Reaches Second Underwriting Agreement] US Critical Metals has entered into a securities purchase agreement with an undisclosed institutional investor, planning to raise $50 million through a private investment in public equity (PIPE) transaction. Under the agreement, Critical Metals will issue a total of 1.47 million shares of common stock and pre-funded warrants to purchase approximately 1.56 million shares of securities. The company stated that the net proceeds from the offering will be used to fund the development of its Tanbreez rare earth ore mine in Greenland, which has estimated ore reserves of 4.7 billion mt. The previous week, Critical Metals signed a ten-year underwriting agreement with US rare earth processor REalloys, committing to supply 15% of the total rare earth products from Tanbreez. In August this year, Critical Metals had already reached an underwriting agreement with Ucore Rare Metals, agreeing to purchase 10% of the rare earth products from Tanbreez's production, bringing the total underwriting volume to 25%.

Ucore Rare Metals, a US critical mineral technology company, has secured $18.4 million in funding from the Department of Defense to expand its rare earth separation and refinery in Louisiana. This funding represents an increase to Ucore's existing $4 million agreement with the US Army Contracting Command-Orlando. TThe funds will also support the expansion of Ucore’s original rare earth separation demonstration project in Kingston, Ontario, and advances the Phase 2 scale-up and commercial operation of the Louisiana Strategic Metals Complex (SMC) rare earth refinery in Alexandria, Louisiana.

[SMM News: US-based Ucore Secures $18 Million to Expand Rare Earth Production] US-based Ucore Rare Metals has secured $18.4 million in funding from the Department of Defense to expand its rare earth separation refinery in Louisiana. This funding represents an increase from Ucore's existing $4 million agreement with the US Army Contracting Command-Orlando. The funding also supports the expansion of Ucore's original rare earth separation project in Kingston, Ontario, and advances the scale-up and commercial operation of Phase II of the Louisiana Strategic Metals Complex (SMC) rare earth refinery in Alexandria, Louisiana.