Energy Fuels (NYSE American: UUUU) (TSX: EFR) has partnered with Neo Performance Materials (TSX: NEO) in an initiative that will see feedstock from the United States being used to manufacture separated rare earth (“RE”) materials outside China for the first time in over 20 years. “A leading U.S.-based uranium mining company, Energy Fuels, has been working with Neo for almost a year in a technical collaboration focused on establishing a monazite processing and RE carbonate production capacity at Energy Fuels’ White Mesa Mill plant in Utah,” reads an article detailing the partnership. “That successful collaboration has led to the current initiative, which marks the first time in more than 20 years that monazite ore from the United States will be used as a feedstock to manufacture separated rare earth materials outside of China. The agreement calls for Energy Fuels to process natural monazite sands, which it obtains from the Chemours Company (NYSE: CC), into an RE carbonate beginning next year and ship a portion of that production to Neo’s rare earth separation facility in Estonia.”
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About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant, and anticipates commencing commercial production of rare earth element (“REE”) carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, has the ability to produce vanadium when market conditions warrant and is completing final test-work for the production of REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest N.I. 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” For more information, visit the company’s website at www.EnergyFuels.com.
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