Mentioned:
A publicly traded company believes they can help reduce America’s dependence on China for rare earth processing.
What’s happening:
- Energy Fuels (NYSE: UUUU) has announced they possess the technical capability to process six out of the seven rare earth elements that were recently restricted by China for global exportation
Why it matters:
- Energy Fuels’ White Mesa Mill located in Utah is one of the only processing facilities for rare earth elements in the United States of America
Going deeper:
- While the Untied States of America has multiple promising rare earth deposits the vast majority of rare earth processing is done in China, which has come under major political focus following China’s recent restrictions about exporting rare earths globally
- Energy Fuels also recently made waves when they struck a new strategic alliance with The Chemours Company (NYSE: CC) focused on expanding the American supply chain for both critical minerals and rare earth elements
The fine print:
- Energy Fuels has also publicly called for support from the United States government to help fund an aggressive expansion of their White Mesa Mill to be capable of ramping up domestic rare earth production as well as assisting with further permitting and approvals, neither of which has been confirmed by the White House yet
