Energy Fuels Inc. Achieves Milestone with Commercial Production of NdPr

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) has announced a significant achievement in the rare earth elements (REEs) sector with the commercial production of separated neodymium-praseodymium (NdPr) at its White Mesa Mill in Utah. This development is notable as the NdPr produced meets the stringent specifications required by manufacturers of REE-based alloys, which are essential for the production of permanent magnets used in electric vehicles (EVs) and hybrid vehicles.

The company has reached full design capacity of its phase 1 REE separation circuit, capable of producing 850 to 1,000 metric tons of NdPr annually. With commercial quantities expected to be available for shipment by the end of the month, this marks a pivotal moment for the U.S. rare earth elements industry. Energy Fuels highlights that this is the first time in decades that a U.S. company has achieved commercial-scale production of on-spec separated REE from monazite.

This milestone is not only a testament to Energy Fuels' capabilities but also underscores the growing importance of domestic production of critical minerals. The ability to produce NdPr on a commercial scale within the U.S. reduces reliance on foreign sources, aligning with national security interests and the global push towards sustainable energy solutions. The production of NdPr is a critical step in the supply chain for EVs and renewable energy technologies, highlighting the strategic significance of Energy Fuels' achievement.

Energy Fuels Inc. continues to solidify its position as a leader in the uranium and critical minerals sector, with its White Mesa Mill being the only conventional uranium mill operating in the U.S. today. The company's recent advancements in REE production further demonstrate its commitment to supporting the transition to a low-carbon economy and meeting the increasing demand for critical minerals.