Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading uranium producer in the United States, has undertaken laboratory evaluation of rare earth mineral concentrates, including monazite and zenotime, from IperionX Limited’s Titan Project located in west Tennessee. The evaluation indicated that IperionX’s rare earth minerals are suitable as a high-quality feedstock to supply UUUU’s commercial production of mixed rare earth carbonate. Energy Fuels also indicated that it plans to build solvent extraction (“SX”) rare earth separation infrastructure at its mill moving forward, which means the facility could produce separated rare earth oxides from high-quality feedstocks such as the rare earth concentrate expected to be produced from IperionX’s Titan Project. The two companies are looking at ways to expand their collaboration as they work to establish a fully integrated permanent rare earth magnet supply chain in the United States. “We are very pleased with the test results observed so far from IperionX’s Titan Project,” said Energy Fuels president and CEO Mark Chalmers in the press release. “We are seeking sources of natural monazite ore to feed our rare earth initiative, with a particular interest in U.S. sources, like Titan. We have already ‘cracked the code’ of phosphate rare earth minerals at U.S. standards, and today we are in commercial production of an advanced rare earth material. In the next few years, we expect to be producing separated light rare earth oxides at our mill in Utah, USA. In addition, we are currently performing successful, high-purity separations through NdPr in our mill laboratory, and we just began performing lanthanum separation at commercial scale using existing equipment at the mill. With supply partners like IperionX, we are quickly moving toward creating a new, low-cost, fully-integrated rare earth magnet supply chain here in the U.S. We look forward to growing our collaboration with IperionX in the coming months.”
To view the full press release, visit https://ibn.fm/w2SS6
About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium for certain projects as market conditions warrant and is ramping up to commercial production of rare earth carbonate in 2021. With corporate offices in Lakewood, Colorado, and all of its assets and employees in the United States, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch 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, as well as rare earth 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 NI 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. For more information, visit the company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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