Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Breaking Cycle of Dependence
NEW YORK, March 18, 2021 (GLOBE NEWSWIRE) -- NetworkNewsAudio – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR). announces the availability of a broadcast titled, “Rare Earths, Rare Opportunity.”
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Prices for neodymium and praseodymium oxide (NdPr), which are the most common rare earths used in making magnets, are up by more than 40% in 2021. Several other key rare earths also jumped in value this year, including dysprosium (+53%), gadolinium (+39%) and terbium (+39%). This follows significant increases in prices for these products in 2020. BMO Capital Markets says that the surge in the price of rare earth metals last year reflected geopolitical tensions in a tug of war between China and the developed world.
Energy Fuels Inc. (NYSE: UUUU) is attempting to break this cycle of dependence on foreign sources and bring REE production home to the United States. Already a leading U.S. uranium and vanadium producer, the company announced on March 1, 2021, that a new fully integrated, non-Chinese rare earth supply chain has been created by Energy Fuels and Neo Performance Materials (NEO.TO).
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 Energy Fuels are available in the company’s newsroom at https://nnw.fm/UUUU
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