NetworkNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Taping ‘Truly Immense Opportunity’ Amid Rising Demand for Rare Earths
Energy Fuels (NYSE American: UUUU) (TSX: EFR) is emerging to become one of the diverse suppliers of rare earth elements (“REEs”). The company has seen monumental progress in its efforts to enter the REE market, which is expected to experience healthy growth. And, if demand continues to grow at its current pace, supply will need to pick up to meet the need for REEs globally. Analyst Ryan Castilloux, managing director of Adamas Intelligence, indicates that, while China will almost certainly remain a key player in the space, the next two to three years will be transitional for the supply chain outside of China in a number of ways. “We’ll see the beginnings of some major changes in 2022 outside of China and by 2026 should see a more diverse supplier landscape, albeit one still dominated by China,” a recent article quotes Castilloux as saying. Energy Fuels made its initial foray into the REE sector in 2019, and in September 2020, commenced the production and shipment of an intermediate rare earth element product, called mixed rare earth carbonate, at its White Mesa Mill in Utah. This is the most advanced REE material being produced in the U.S. today. Energy Fuels is set to install REE separation, and potentially REE metal-making and alloying capabilities at the White Mesa Mill in the next few years. The article quotes Energy Fuels president and CEO Mark Chalmers as saying, “With the increased demand for rare earths — up to a fivefold demand increase over the next 10 years — we will need all hands on deck… Combined with the current resurgence in uranium, rare earths represent a truly immense opportunity.”
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Energy Fuels (NYSE American: UUUU) (TSX: EFR) is emerging to become one of the diverse suppliers of rare earth elements (“REEs”). The company has seen monumental progress in its efforts to enter the REE market, which is expected to experience healthy growth. And, if demand continues to grow at its current pace, supply will need to pick up to meet the need for REEs globally. Analyst Ryan Castilloux, managing director of Adamas Intelligence, indicates that, while China will almost certainly remain a key player in the space, the next two to three years will be transitional for the supply chain outside of China in a number of ways. “We’ll see the beginnings of some major changes in 2022 outside of China and by 2026 should see a more diverse supplier landscape, albeit one still dominated by China,” a recent article quotes Castilloux as saying. Energy Fuels made its initial foray into the REE sector in 2019, and in September 2020, commenced the production and shipment of an intermediate rare earth element product, called mixed rare earth carbonate, at its White Mesa Mill in Utah. This is the most advanced REE material being produced in the U.S. today. Energy Fuels is set to install REE separation, and potentially REE metal-making and alloying capabilities at the White Mesa Mill in the next few years. The article quotes Energy Fuels president and CEO Mark Chalmers as saying, “With the increased demand for rare earths — up to a fivefold demand increase over the next 10 years — we will need all hands on deck… Combined with the current resurgence in uranium, rare earths represent a truly immense opportunity.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
