Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading uranium producer in the United States, announced that it has shipped the first container of mixed rare earth (“RE”) carbonate from its White Mesa Mill in Utah to Neo Performance Materials in Estonia, thus creating a new rare earth supply chain from the United States to Europe. The container, which contained approximately 20 tonnes of RE carbonate, is one of 15 planned for shipment as Energy Fuels continues to process natural monazite sand ore mined in the U.S. Once the RE carbonate arrives at the New Performance Materials plant, it will be processed into separated rare earth oxides and other value-added rare earth compounds. According to the announcement, UUUU’s commercial-scale production of RE carbonate establishes Energy Fuels asthe only company in North America that currently produces a monazite-derived, enhanced rare earth material. “Today, Energy Fuels and Neo took significant steps toward restoring critical U.S. and European rare earth supply chains,” said Energy Fuels president and CEO Mark S. Chalmers in the press release. “Energy Fuels has methodically ramped up our mixed rare earth carbonate production since we first started feeding Georgia monazite ore into our Utah mill in March. Successfully producing this rare earth product, and physically delivering the first containers of rare earth carbonate to Neo, is an important achievement, not only for Energy Fuels and Neo, but also for U.S. government efforts to restore critical rare earth supply chains. This is also very good news for end users of rare earth products in the U.S., Europe , Japan and elsewhere who seek alternative sources of rare earths produced in the U.S. and Europe to the highest global standards of environmental protection and sustainability.”
To view the full press release, visit https://ibn.fm/GS2OE
About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 (“U3O8”) to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial production of 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 more than 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant as well as 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 NI 43-101 compliant uranium resource portfolios in the United States 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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