Mentioned:
UUUU -14.13% CRML -11.17%
Energy Fuels wants to play a major role in reshaping the rare earth supply chain in America. And they’re getting closer than ever.
What’s happening:
- Energy Fuels (NYSE: UUUU) has successfully validated that their high purity dysprosium oxide has passed all initial purity tests of a South Korean automotive manufacturing company to be used in permanent magnets
Why it matters:
- Dysprosium oxide is a important additive for neodymium-iron-boron permanent magnets that are often used in electric vehicles, drones, missiles and even robotics
Going deeper:
- Energy Fuels has publicly stated their White Mesa Mill facility located in Utah is the only plant in America that is currently capable of refining high purity rare earth oxides from monazite feedstock into separated products
- Rare earth refining and processing continues to come into focus in the public markets, including REalloys just recently forming a new long term deal with the Saskatchewan Research Council to secure 80% of their of their annual production as well as Critical Metals (NASDAQ: CRML) notably forming a new joint venture to build a rare earth processing plant in Romania to scale up access to rare earth magnets within the European Union
The intrigue:
- Energy Fuels previously made waves when they formed a partnership with Altimeter Capital Management backed startup Vulcan Elements to supply them with rare earth oxides
