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Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Partners with Global Leader in Rare Earth Separation
June 15, 2021

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Partners with Global Leader in Rare Earth Separation

  • UUUU is focused on building fully integrated, rare earth supply capabilities
  • Carester is recognized as leading authority, global consultants on rare earth supply chains
  • Energy Fuels committed to restoring critical U.S. domestic rare earth capabilities

In its ongoing commitment to developing its rare earth element (“REE”) business, Energy Fuels (NYSE American: UUUU) (TSX: EFR) is working with Carester SAS, a leading global expert on rare earth separation (https://ibn.fm/lb61d). UUUU is working with Carester to conduct a scoping study for the development of a solvent extraction REE separation circuit at Energy Fuels’ White Mesa Mill in Utah. 

“Energy Fuels is absolutely focused on building fully integrated rare earth supply capabilities at our White Mesa Mill in the coming years, and we are pleased to have Carester on the team to support our efforts,” said Energy Fuels president and CEO Mark S. Chalmers, President and CEO of Energy Fuels. “Since we began evaluating the potential to produce rare earth products in late 2019, Energy Fuels has partnered with only the best global experts at every opportunity, and the agreement with Carester is just another example of how our company is advancing our strategy on the complete REE production sequence.”

Last year Energy Fuels announced its intent to explore the potential of producing separated REE oxides, REE metals, REE alloys and other value-added REE products at its White Mesa Mill with the objective of creating a fully integrated U.S. REE supply chain in the coming years. Partnering with Carester represents a key component of that development. 

Energy Fuels and Carester will be evaluating the next steps as the company moves forward with its planned development of REE separation capabilities at the White Mesa Mill. Energy Fuels anticipates using existing equipment and infrastructure as much as possible as it works to create a continuous, integrated and optimized rare earth production sequence. Part of the study calls for Carester to evaluate the mill’s current monazite leaching process; the Carester team will also prepare an REE separation flow sheet, calculate capital and operating expense estimates, analyze where new technologies need to be incorporated and even recommend equipment vendors. 

Energy Fuels opted to partner with France-based Carester because its team is recognized as a leading authority and global consultants on rare earth supply chains, offering invaluable insight and expertise in designing, constructing, operating and optimizing REE production facilities globally.

“Rare earth extraction, separation and purification can be complex. We believe that our extensive in-house processing experience, combined with Carester’s expertise, places the company in an excellent position to successfully and cost effectively help to restore critical domestic rare earth capabilities in the USA at the White Mesa Mill,” Chalmers said. “As more clean energy and advanced technologies are deployed, more rare earth products will be required. 

However, technologies are only clean if every step in the supply chain from the mine to the final consumer product is clean,” continued Chalmers. “An electric vehicle is not green if the raw materials that go into the vehicle are not responsibly produced. The U.S. has the highest standards for safety, efficiency and environmental responsibility in the world when it comes to mining, processing, refining and manufacturing. Energy Fuels is working towards establishing a clean and green U.S. option for manufacturers who demand the highest standards in their rare earth raw materials.”

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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