Business
Energy Fuels Announces Q2-2024 Results Including Uranium Mining and Successful Commissioning of Commercial Rare Earth Separation
DENVER, Aug. 2, 2024 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), an industry leader in uranium and rare earth
About this update from Energy Fuels Inc.
[{"type":"text","content":" DENVER, Aug. 2, 2024 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (\"Energy Fuels\" or the \"Company\"), an industry leader in uranium and rare earth elements (\"REE\") production for the energy transition, today reported its financial results for the quarter ended June 30, 2024. The Company previously announced details for its upcoming August 5, 2024 earnings call, which are also included in this news release. \"Energy Fuels continues to capitalize on uranium market opportunities, profitably selling an additional 100,000 pounds of uranium on the spot market, signing a new long-term sales contract with a U.S. nuclear utility at supportive pricing, and mining uranium from three of our conventional mines in anticipation of a large-scale uranium processing campaign at our White Mesa Mill expected to begin later this quarter and continue through 2025 and into 2026. Simultaneously, we achieved several milestones in the Company's long-term value creation strategy by entering into agreements to add two world-scale rare earth and heavy mineral sand projects to our portfolio which, upon earn-in of one and acquisition of the other, will together have the potential to generate significant margins and cash flows in the future,\" said Mark Chalmers, Energy Fuels' President and Chief Executive Officer. \"This quarter, we also achieved another U.S. critical mineral industry milestone when we produced 'on-spec' separated NdPr at commercial scale at our White Mesa Mill in Utah from monazite sourced from Florida and Georgia. Our efforts this quarter have moved us closer to our business objective of becoming a long-term U.S. critical minerals company that produces many of the raw materials needed for the energy transition.\" \"It is an extremely exciting and busy time at Energy Fuels, as we plan for a future in which we profitably produce uranium, rare earth elements, titanium, zirconium, vanadium, and even potentially radioisotopes needed for life-saving cancer treatments. The 'common thread' connecting all these critical minerals is that they are typically produced from naturally radioactive feedstocks, which Energy Fuels has the licenses, infrastructure and capability to manage in a way unique to the Company within the Western Hemisphere.\" \"We invite all stakeholders to join us in our upcoming August 5, 2024...