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Neo Performance Materials and Energy Fuels Announce Joint Launch of U.S.-European Rare Earth Production Initiative
Neo Performance Materials and Energy Fuels Announce Joint Launch of U.S.-European Rare Ea...
About this update from Neo Performance Materials, Inc.
[{"type":"text","content":"\n \n \n \n Neo Performance Materials and Energy Fuels Announce Joint Launch of U.S.-European Rare Earth Production Initiative\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Separated Rare Earth Products Produced in\n \n Europe\n \n from U.S.-Sourced Feedstock is Expected to Strengthen and Diversify U.S. and European Rare Earth Supply Chains\n \n \n \n TORONTO and\n \n LAKEWOOD, CO\n \n ,\n \n March 1, 2021\n \n /CNW/ - Neo Performance Materials (TSX: NEO) (\"\n \n Neo\n \n \") and Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (\n \n \"Energy Fuels\"\n \n ) are pleased to announce a new rare earth production initiative spanning European and North American critical material supply chains. The initiative will produce value-added rare earth products from natural monazite sands, a byproduct of heavy mineral sands mined in the southeastern United States.  Energy Fuels will process the monazite sands into a mixed rare earth carbonate (\"\n \n RE Carbonate\n \n \") in\n \n Utah\n \n for use as feed material for Neo's value-added separated rare earth production plant in\n \n Europe\n \n .  Energy Fuels is also continuing to evaluate developing additional value-added U.S rare earth production capabilities in\n \n Utah\n \n in the future.\n \n \n Under an agreement in principle signed today by the companies' respective affiliates, subject to completion of definitive agreements,\n \n Colorado\n \n -based Energy Fuels will process natural monazite sands into an RE Carbonate beginning in March or\n \n April 2021\n \n and ship a portion of that production to Neo's rare earth separations facility in Sillamäe,\n \n Estonia\n \n (\"\n \n Silmet\n \n \"). Neo will then process the RE Carbonate into separated rare earth materials for use in rare earth permanent magnets and other rare earth-based advanced materials. Because of increasing demand for value-added rare earth materials in European manufacturing,\n \n Toronto\n \n -based Neo seeks to expand and diversify its current s...