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Energy Fuels Receives First Shipments of Natural Monazite Ore; Commercial Recovery of Rare Earths Expected to Begin in U.S. in Coming Weeks
Energy Fuels expects to commercially produce an intermediate rare earth element product at a stage more advanced than any other U.S. company. LAKEWOOD, Colo, Ma
About this update from Energy Fuels Inc.
[{"type":"text","content":" Energy Fuels expects to commercially produce an intermediate rare earth element product at a stage more advanced than any other U.S. company. LAKEWOOD, Colo, March 9, 2021 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (\"Energy Fuels\" or the \"Company\") is pleased to announce that the first shipments of natural monazite ore arrived at the Company's White Mesa Mill (the \"Mill\") in Blanding, Utah this past weekend. This material was separated by The Chemours Company at its Offerman Mineral Sand Plant in Georgia and transported by truck to the Mill. In the coming weeks, Energy Fuels expects to gradually ramp-up production of an intermediate rare earth element (\"REE\") product, called a \"mixed REE carbonate.\" This product will then advance to REE separation, which is the next stage in the REE value chain. Energy Fuels also expects to recover the uranium in the ore, which will be used as fuel for the generation of clean, carbon-free nuclear energy. Upon successful ramp-up, Energy Fuels expects to commercially produce an REE product at a stage more advanced than any other U.S. company. As previously announced, Energy Fuels expects to sell its mixed REE carbonate to Neo Performance Materials (\"Neo\"), which will process this material at its facility in Europe and manufacture separated rare earth products available to U.S. and European markets. Energy Fuels is also continuing to evaluate developing additional value-added U.S. rare earth separation and other capabilities in Utah in the future. Mark S. Chalmers, President and CEO of Energy Fuels stated: \"Over the past few months, Energy Fuels, Neo and Chemours have quietly worked to create something very significant: a new, fully-integrated, U.S.-Europe rare earth supply chain. This weekend's shipments of monazite ore from Chemours to Energy Fuels marks the beginning of operations for what we believe will become a burgeoning supply chain. There is a lot of excitement building for rare earths, because they make many clean energy and advanced technologies possible, including electric vehicles, wind generation, batteries and advanced electronics. Today's announcement is a key milestone as our companies create, refine, and grow a sustainable rare earth supply chain capable of supplying growing demand for clean technologies in the U.S. and Europe. \"We believe Energ...