This article has been disseminated on behalf of Energy Fuels Inc. and may include paid advertising.
Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of rare earth elements (“REE”), uranium and other critical materials, announced that its terbium (“Tb”) oxide has successfully passed all qualifications for use by one of the world’s largest manufacturers of rare earth permanent magnets outside China. The Japan-based manufacturer confirmed that Tb oxide produced at Energy Fuels’ White Mesa Mill in Utah meets its specifications and is approved for commercial rare earth permanent magnet production with no further qualification or validation required. Terbium, which improves the heat resistance and performance of high-strength NdFeB permanent magnets, currently commands a market price of approximately $5.5 million per tonne, according to Benchmark Mineral Intelligence.
Energy Fuels previously announced qualification of its neodymium-praseodymium (“NdPr”) and dysprosium (“Dy”) oxides for rare earth permanent magnet manufacturing. Upon closing of its pending acquisitions of Australian Strategic Materials (“ASM”) and Vacuumschmelze (“VAC”), Energy Fuels expects to become the leading vertically integrated “mine-to-rare earth permanent magnet” producer in the U.S. and Europe, with NdPr, Tb and Dy oxides produced at the White Mesa Mill serving as key components of its supply chain.
To view the full press release, visit https://ibn.fm/QNWwb
About Energy Fuels
Energy Fuels is a leading U.S. critical materials company specializing in uranium, rare earth elements, heavy mineral sands, vanadium, and the development of medical isotopes. With several uranium projects in the western United States, Energy Fuels has been the top U.S. producer of natural uranium concentrate, supplying nuclear utilities. The Company owns the only fully licensed conventional uranium mill operating in the U.S. – the White Mesa Mill in Utah – where it also produces REE products and evaluates medical isotope recovery for emerging cancer therapies. Additionally, Energy Fuels is developing three heavy mineral sands/rare earths projects: the Vara Mada Project in Madagascar, Bahia Project in Brazil, and Donald Project in Australia (through a joint venture with Astron Limited). Based in Lakewood, Colorado, its shares trade on the NYSE American (“UUUU”) and TSX (“EFR”).
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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