Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based uranium mining company, is positioned in what could be called a milestone moment in re-establishing a fully integrated rare earth element (“REE”) supply chain in the United States. The company recently announced a three-year supply agreement with the Chemours Company (NYSE: CC), under which it will receive a minimum of 2,500 tons of natural monazite ore per year, one of the highest-grade rare earth element (“REE”) minerals in the world. Energy Fuels will process this monazite at its 100%-owned White Mesa Mill in Southeast Utah to produce a marketable mixed REE carbonate. “We are extremely excited about working with Chemours to help reestablish U.S. rare earth production,” said Energy Fuels president and CEO Mark S. Chalmers in a recent update. “Chemours is a leader in the U.S. heavy mineral sands industry, and together we are now taking an important first step in returning the REE supply chain back to the United States. We look forward to working with Chemours in the future to expand our mutual contributions to this important initiative.”
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About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant, and anticipates commencing commercial production of rare earth element (“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 over 8 million pounds of U3O8 per year, has the ability to produce vanadium when market conditions warrant and is completing final test-work for the production of 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 U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” 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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