Ucore Rare Metals Inc. ("Ucore") (UCU.V)(UURAF) applauds Representative Don Young (R-AK) (http://donyoung.house.gov/) for his amendment to the National Strategic and Critical Minerals Production Act of 2012 (H.R. 4402, http://hdl.loc.gov/loc.uscongress/legislation.112hr4402). Mr. Young's amendment will allow Ucore (http://ucore.com/) to accelerate the mining permit process so it can expedite development of its heavy rare earth project at Bokan Mountain, Alaska.
The 2001 Roadless Area Conservation Rule banned road building on more than 58 million acres of federal land nationwide. For many years, the Tongass was exempt from the rule due to the richness of its resources, the positive impact on local communities including native populations, and the multiple preexisting environmental protections in the forest. A federal judge in Alaska overturned the blanket exemption in March of 2011, but retained an exemption in the Bokan Mountain area sufficient to provide for Ucore's needs in the exploration phase of the project.
Rep. Young's amendment clarifies and expands on that previous exemption and now allows for expedited road development within the Bokan project area, the most significant heavy rare earth resource in the U.S. The metals found in the mineral prescription area at Bokan Mountain will support future economic development in the state of Alaska as well as the national security and energy independence of the United States.
Currently, China dominates the world's rare earth production but has slowly implemented export restrictions threatening the reliability of continued U.S. supply. H.R. 4402 will allow accelerated development of the U.S. supply chain for these materials. Ucore is pleased to support both the bill and Mr. Young's amendment and urge passage of the bill in the United States Senate.
Mr. Young's amendment was adopted by the House of Representatives and included in the final version of the bill, which passed the House by a vote of 256-160. The Senate has introduced S. 1113, the Critical Minerals Policy Act of 2011, which is a bi-partisan, companion bill to H.R. 4402.
For more information on Ucore Rare Metals click here...
Check out these recent videos on permitting and mine development at Bokan Mountain.