Energy Fuels (NYSE American: UUUU) (TSX: EFR) may be the only company outside of China with the equipment, expertise and licenses in place to responsibly process monazite, one of the most valuable rare earth elements (“REEs”) in the world. A recent article reads, “The company, along with key partners, is focused on establishing the United States again as a producer of advanced rare earth products, all produced from monazite, with a commitment to sustainability, environmental protection and human rights. The company is also creating a supply chain option that allows monazite suppliers in the U.S. and around the world to participate in the profits from downstream rare earth processing and production of advanced materials.” This comes in the wake of the commitment by the U.S. government to end the country’s dependence on China for REEs. According to Energy Fuels, China dominates every aspect of the global rare earth market, from mining to processing to manufacturing. China has wielded this monopoly of the REE supply chain to influence foreign policies, a weaponization that threatens the economic and national security of the U.S. and other countries around the world. As a result, Energy Fuels’ involvement in this effort is essential.
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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 ramping up to commercial production of 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 and has the ability to produce vanadium when market conditions warrant, as well as REE carbonate and uranium from various uranium-bearing ores. The Nichols Ranch ISR Project is currently 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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