NetworkNewsBreaks – Energy Fuels Inc. (NYSE Amer
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Posted On: 03/02/2021 4:22:10 PM
NetworkNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Joins with Neo Performance Materials (TSX: NEO) to Launch U.S.-European Rare Earth Production Initiative
Energy Fuels (NYSE American: UUUU) (TSX: EFR) has partnered with Neo Performance Materials (TSX: NEO) to unveil a new rare earth production initiative spanning both North American and European critical material supply chains. The separated rare earth products produced in Europe from U.S.-sourced feedstock should strengthen and diversify the U.S. and European rare earth supply chains. As outlined in the announcement, the initiative will produce value-added rare earth products from natural monazite sands processed by Energy Fuels in the Southeastern United States. The resulting mixed rare earth carbonate will be shipped to Neo’s rare earth separations facility in Estonia, where it will be processed into separated rare earth materials for use in rare earth permanent magnets and other rare earth-based advanced materials. In addition to the initiative with Neo, Energy Fuels continues to assess other opportunities for developing value-added U.S rare earth production capabilities in the future. “Together, Energy Fuels, Neo and Chemours have successfully created an integrated rare earth supply chain based in the U.S. and Europe,” stated Energy Fuels president and CEO Mark S. Chalmers in the press release. “Monazite is coveted globally as one of the highest-value rare earth minerals in the world, due to its excellent distribution of neodymium and praseodymium (‘NdPr’), as well as ‘heavy’ rare earths. It is already mined here in the U.S. and elsewhere around the world. However, until now, there has been no integrated ability to process monazite in the U.S. or Europe into the rare earth materials needed to supply the rapidly increasing demand for electric vehicles, renewable energy systems, and other clean energy and advanced technologies. Energy Fuels is proud to help solve this challenge for both U.S. and European markets. Under the agreement announced today, we plan to supply all or a portion of our mixed rare earth carbonate to Neo for several years, while also developing our own separation, metals, alloys, and other downstream rare earth capabilities at the White Mesa Mill for supply into the U.S. as domestic markets grow.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Energy Fuels (NYSE American: UUUU) (TSX: EFR) has partnered with Neo Performance Materials (TSX: NEO) to unveil a new rare earth production initiative spanning both North American and European critical material supply chains. The separated rare earth products produced in Europe from U.S.-sourced feedstock should strengthen and diversify the U.S. and European rare earth supply chains. As outlined in the announcement, the initiative will produce value-added rare earth products from natural monazite sands processed by Energy Fuels in the Southeastern United States. The resulting mixed rare earth carbonate will be shipped to Neo’s rare earth separations facility in Estonia, where it will be processed into separated rare earth materials for use in rare earth permanent magnets and other rare earth-based advanced materials. In addition to the initiative with Neo, Energy Fuels continues to assess other opportunities for developing value-added U.S rare earth production capabilities in the future. “Together, Energy Fuels, Neo and Chemours have successfully created an integrated rare earth supply chain based in the U.S. and Europe,” stated Energy Fuels president and CEO Mark S. Chalmers in the press release. “Monazite is coveted globally as one of the highest-value rare earth minerals in the world, due to its excellent distribution of neodymium and praseodymium (‘NdPr’), as well as ‘heavy’ rare earths. It is already mined here in the U.S. and elsewhere around the world. However, until now, there has been no integrated ability to process monazite in the U.S. or Europe into the rare earth materials needed to supply the rapidly increasing demand for electric vehicles, renewable energy systems, and other clean energy and advanced technologies. Energy Fuels is proud to help solve this challenge for both U.S. and European markets. Under the agreement announced today, we plan to supply all or a portion of our mixed rare earth carbonate to Neo for several years, while also developing our own separation, metals, alloys, and other downstream rare earth capabilities at the White Mesa Mill for supply into the U.S. as domestic markets grow.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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