Ucore North America to Invest $75 Million and Create 100 New Jobs at Rare Earth Plant
A new industry is coming to Central Louisiana. Ucore North America is investing $75 million to establish a rare earth separation and purification facility in Alexandria. ABC 31 News Joel Massey has more on the project which will create 100 new jobs for the area.
Michael Schrider COO of Ucore Rare Metals said, “We’re very appreciative of Central Louisiana all of the partners we’ve met here and we’re very excited to be coming here with our first full scale production plant in North America.”
Schrider announced that his company is locating in Central Louisiana at England Airpark to create a rare earth separation and purification facility.
“Rare earth elements are 17 different elements that are very difficult to separate from each other and our technology allows us to separate those individually in a very efficient manner.”
Schrider said that the rare earth oxides refined by the plant will be used by the automotive industry to create the motors for electric vehicles.
“Anybody that uses high powered magnets in the world they need those rare earth oxides to make those the most efficient magnets in the world which make the most powerful motors in the world.”
President of Louisiana Central Jim Clinton was instrumental in working out the details to land the new industry.
“This should have the impact of improving our economy improving job opportunities for our citizens and contributing to an image that we are at the front of economic development and that this is a place that is growing and that can be a great place to have an operation.”
Schrider says they chose Central Louisiana for a variety of reasons.
“You’ve got rail, you’ve got interstate, you’ve got an education system. You’ve got universities to the north, universities to the south, local community college here, and LSU Alexandria. All of those factors weighed in.”
Upgrades of an existing 80,800 square-foot building will begin this year with operations estimated to start in early 2025. The company anticipates it will be able to process 7,500 metric tons of rare earth oxides per year by 2027.
