Business
Energy Fuels to Enter Rare Earth Elements Sector; Conference Call & Webcast Scheduled for April 15, 2020
LAKEWOOD, CO, April 13, 2020 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) ("Energy Fuels" or the "Company"), the leading producer of uranium in the
About this update from Energy Fuels Inc.
[{"type":"text","content":" LAKEWOOD, CO, April 13, 2020 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) (\"Energy Fuels\" or the \"Company\"), the leading producer of uranium in the U.S., is pleased to announce its entry into the Rare Earth Element (\"REE\") sector. The Company will host a webcast and conference call to discuss this opportunity, along with its current views on the improving global uranium market, on April 15, 2020, at 4:15 p.m. EDT. Details on how to join the webcast and conference call are provided at the bottom of this news release. Energy Fuels believes its fully licensed and constructed White Mesa Mill (\"WMM\"), which is the only uranium and vanadium mill in operation in the U.S. today, can play a key role in bringing the REE supply chain back to the U.S. from China. The Company's primary business is – and will remain – uranium mining and production. However, Energy Fuels believes it can leverage its existing licenses, infrastructure and capabilities at the WMM to also produce REEs. Key highlights of this plan include: Energy Fuels is embarking on a program to evaluate the production of REEs at its White Mesa Mill, in addition to its current business as the largest uranium producer in the United States and a significant vanadium producer when market conditions warrant. The U.S. government has declared REEs critical to national defense and has made government funds available to private companies to develop domestic REE production capabilities. As the only licensed, constructed and operating conventional uranium processing facility in the U.S., Energy Fuels' White Mesa Mill is uniquely positioned to play a key role in the processing of REE ores, which if successful, may reduce the need to process a number of different types of REE ores in China. Licensing is a major impediment to the construction and operation of REE processing facilities in the U.S. due to the uranium and other radioactive elements often associated with REE ore streams; the Company believes the White Mesa Mill can be utilized to allow for the recovery of REEs, along with uranium, from those ore streams. Energy Fuels has engaged ANSTO based in Sydney, Australia, one of the world's leading experts in the REE sector and management of radioactive materials, to assist in testing, mineralogy, flowsheet development and pilot plant engineering at the White Mesa Mil...