Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) has announced a significant milestone in the U.S. rare earth elements (REEs) sector by achieving commercial production of separated neodymium-praseodymium (NdPr) at its White Mesa Mill in Utah. This development is pivotal as the NdPr produced meets the stringent specifications required by manufacturers of REE-based alloys, which are essential for the permanent magnets used in electric motors for battery-powered electric vehicles (EVs) and hybrid vehicles.
The company's ability to produce 'on-spec' NdPr at the full design capacity of its new phase 1 REE separation circuit, which ranges between 850 to 1,000 metric tons per year, underscores a major step forward in domestic REE production. Energy Fuels anticipates having commercial quantities of separated NdPr ready for shipment by the end of the current month, signaling a robust response to the escalating demand for materials critical to the EV and renewable energy sectors.
This achievement is notable as it represents the first time in several decades that a U.S. company has produced on-spec separated REE from monazite on a commercial scale. The implications of this development are far-reaching, offering a reduction in the U.S.'s reliance on foreign sources for critical minerals, enhancing national security, and supporting the transition to cleaner energy technologies. The production of NdPr domestically not only bolsters the U.S. position in the global REE market but also contributes to the sustainability and resilience of supply chains for advanced technologies.
Energy Fuels' progress in REE production at the White Mesa Mill is a testament to the company's innovative approach and commitment to diversifying its portfolio beyond uranium and vanadium. As the world increasingly shifts towards renewable energy and electric mobility, the demand for rare earth elements like NdPr is expected to surge, making Energy Fuels' latest achievement a timely and strategic advancement in the industry.
