Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading producer of uranium and vanadium in the United States, on Thursday announced that President Trump issued an Executive Order on Addressing the Threat to the Domestic Supply Chain from Reliance on Critical Minerals from Foreign Adversaries (the ” Order “). Energy Fuels believes the Order may be a major step toward providing tangible support and/or funding directed toward producers and processors of critical minerals. “President Trump made a strong statement last night on the importance of bringing the production of critical minerals back to the United States. In 2018, the Administration deemed 35 minerals critical to U.S. national security and the economy. For 31 of these 35 minerals, the U.S. imports more than half of our requirements. And, for 14 of these 35 minerals, the U.S. is effectively 100% dependent on imports,” Mark S. Chalmers, president and CEO of Energy Fuels, said in the news release. “These minerals are needed for aerospace, computers, cell phones, electrical generation and transmission, renewable energy systems and batteries, and advanced electronics. This is an unacceptable situation for a superpower like the United States, and we applaud President Trump for taking bold action to address this critical need.”
Visit the following links to view the full text of the Order: https://ibn.fm/HMURJ; President Trump’s message to Congress: https://ibn.fm/bPL9x; and a fact sheet summary: https://ibn.fm/aLGuE.
To view the full press release, visit https://ibn.fm/v2FdK
About Energy Fuels
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 is evaluating the potential to implement a commercial rare earth recovery and processing program at its White Mesa Mill. 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 U.S. 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 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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