Energy Fuels (NYSE American: UUUU) (TSX: EFR), the country’s largest producer of uranium, which also expects to become a producer of an intermediate rare earth element (“REE”) product in early 2021, is poised as the new Joe Biden White House agenda “rests on a foundation provided by the nation’s nearly 600,000 miners — miners and a mining industry ready to do their parts to help drive America’s post-pandemic recovery.” According to a recent NWITimes article, Biden’s website states: “We’ve seen the importance of bringing home critical supply chains so that we aren’t dependent on other countries in future crises.” A recent article discussing the company reads, “Energy Fuels is committed to playing a key role in that era. In 2018, the U.S. government identified 35 minerals as being critical to the country’s national security and economy, including rare earths, uranium and vanadium, which the company produces. “For 31 of these 35 minerals, the U.S. imports more than half of our requirements,” observed Energy Fuels president and CEO Mark S. Chalmers. “And, for 14 of these 35 minerals, the U.S. is effectively 100% dependent on imports. 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. Energy Fuels stands ready to do our part in bringing uranium, vanadium and rare earth element processing and production back to the United States. We have led uranium industry efforts in Washington DC over the past three years to bring the issue of mineral supply chain security to the forefront.”
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About Energy Fuels Inc.
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 anticipates commencing commercial production of rare earth element (“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, has the ability to produce vanadium when market conditions warrant and is completing final test-work for the production of REE carbonate from various uranium-bearing ores. 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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