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Energy Fuels wants to scale up heavy rare earth oxide production in America. But, why?
What’s happening:
- Energy Fuels (NYSE: UUUU) has successfully produced their first kilogram of terbium oxide at their White Mesa Mill located in Utah
Why it matters:
- Terbium oxide is a heavy rare earth oxide that is highly important input for producing rare earth permanent magnets that are used in electric vehicles, robotics and military defense systems
Going deeper:
- Energy Fuels has publicly stated that they produced their first kilogram of terbium oxide from monazite ore that was mined in Florida and Georgia by The Chemours Company (NYSE: CC) which makes their entire supply chain non-reliant on China
- Energy Fuels has been aggressively scaling up their rare earth business lately, including previously producing their first kilogram of dysprosium oxide at pilot scale at their White Mesa Mill which achieved 99.9% purity
The intrigue:
- REalloys (NASDAQ: ALOY) just recently made major waves on Wall Street with a $50M USD capital raise to build the single largest heavy rare earth metallization facility in North America, which is focused on converting dysprosium and terbium into metal for neodymium-iron-boron magnets that are used in jet engines, hypersonic missiles, radar systems and other combat equipment
