NetworkNewsBreaks – Energy Fuels Inc. (NYSE Amer
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Posted On: 05/19/2022 3:50:13 PM
NetworkNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Enters Agreement for Major Rare Earth Land Position in Brazil
Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading uranium producer in the United States, has signed binding agreements to secure an estimated 58.3 square-mile, heavy-mineral sand position. The agreements cover the acquisition of 17 mineral concessions located between Prado and Caravelas, towns in the state of Bahia, Brazil. Called the Bahia Project, the area has potential to feed the Energy Fuel’s White Mesa Mill with rare earth element and uranium bearing natural monazite sand for decades. “This is another very significant step in Energy Fuels’ development as a major global rare earth element producer based in the United States,” said Energy Fuels president and CEO Mark S. Chalmers. “We are aggressively seeking to expand our monazite sand feeds. With guidance from our heavy-mineral sand experts, the company has been evaluating the acquisition of monazite-bearing projects. The Bahia deposit is well-known throughout the HMS industry as having excellent potential to produce high-quality ilmenite, rutile and zircon products, in addition to monazite. We are very pleased to have secured this project, as it has the potential to provide Energy Fuels with our own low-cost source of monazite feed that we fully control. The company expects to supplement its monazite supply in the future with open market purchases, arrangements with existing monazite producers, and/or additional acquisitions. Energy Fuels is in advanced discussions with other current and future monazite producers around the world to provide creative options on how to best build upon our momentum and add further scale.”
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), the leading uranium producer in the United States, has signed binding agreements to secure an estimated 58.3 square-mile, heavy-mineral sand position. The agreements cover the acquisition of 17 mineral concessions located between Prado and Caravelas, towns in the state of Bahia, Brazil. Called the Bahia Project, the area has potential to feed the Energy Fuel’s White Mesa Mill with rare earth element and uranium bearing natural monazite sand for decades. “This is another very significant step in Energy Fuels’ development as a major global rare earth element producer based in the United States,” said Energy Fuels president and CEO Mark S. Chalmers. “We are aggressively seeking to expand our monazite sand feeds. With guidance from our heavy-mineral sand experts, the company has been evaluating the acquisition of monazite-bearing projects. The Bahia deposit is well-known throughout the HMS industry as having excellent potential to produce high-quality ilmenite, rutile and zircon products, in addition to monazite. We are very pleased to have secured this project, as it has the potential to provide Energy Fuels with our own low-cost source of monazite feed that we fully control. The company expects to supplement its monazite supply in the future with open market purchases, arrangements with existing monazite producers, and/or additional acquisitions. Energy Fuels is in advanced discussions with other current and future monazite producers around the world to provide creative options on how to best build upon our momentum and add further scale.”
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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