Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium producer in the United States and the leading producer of vanadium, finds itself in an ideal position as the company prepares to enter the rare earth elements (“REE”) sector. Earlier this year, Energy Fuels announced its entry into REEs — a space with growing interest that was highlighted in a recent “Forbes” article, which reads, “[REEs are] an awfully hot topic right now for two reasons. First, they’re increasingly in demand for critical modern technologies, ranging from computer hard drives and cell phones, to new-tech applications such as batteries for ‘EVs’ and clean power storage, to critical defense items such as jet engines and lasers. Second, supply is currently dominated by China (for mining alone, for example, China has 80% market share). China has cut off supplies to countries before, and just last year threatened to do so again, in retaliation against the trade war with America” (http://ibn.fm/0Q6is).
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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. Its corporate offices are near Denver, Colorado, 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 United States today, has a licensed capacity of over 8 million pounds of U3O8 per year and has the ability to produce vanadium when market conditions warrant. 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 currently on standby. In addition to the above production facilities, Energy Fuels has one of the largest NI 43-101 compliant uranium resource portfolios in the United States, including 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; 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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