Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of rare earth elements, uranium, and other critical materials, announced that its terbium oxide has successfully passed all qualifications for use by one of the world's largest manufacturers of rare earth permanent magnets outside China. The Japan-based manufacturer confirmed that the terbium oxide produced at Energy Fuels' White Mesa Mill in Utah meets its specifications and is approved for commercial rare earth permanent magnet production with no further qualification or validation required.
Terbium is a critical element that improves the heat resistance and performance of high-strength NdFeB permanent magnets, which are essential components in electric vehicles, wind turbines, and various high-tech applications. According to Benchmark Mineral Intelligence, terbium currently commands a market price of approximately $5.5 million per tonne, underscoring its strategic importance in the global transition to clean energy.
This qualification follows Energy Fuels' previous announcements regarding the successful qualification of its neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides for rare earth permanent magnet manufacturing. Together, these qualifications position Energy Fuels as a key supplier of magnet metals to Western markets, reducing reliance on Chinese supply chains.
The company is also progressing with its pending acquisitions of Australian Strategic Materials (ASM) and Vacuumschmelze (VAC), which, upon closing, are expected to make Energy Fuels the leading vertically integrated "mine-to-rare earth permanent magnet" producer in the U.S. and Europe. The NdPr, Tb, and Dy oxides produced at the White Mesa Mill will serve as key components of this integrated supply chain.
The White Mesa Mill is the only fully licensed conventional uranium mill operating in the U.S., and it has been adapted to also produce rare earth products. This facility is central to Energy Fuels' strategy of becoming a major supplier of critical materials for the clean energy and defense sectors.
The qualification of terbium oxide is a significant milestone for Energy Fuels and the broader Western rare earth industry. It demonstrates that the company can produce high-purity magnet metals that meet the stringent requirements of major manufacturers. This development is expected to enhance Energy Fuels' competitive position and support the growth of a domestic and allied supply chain for rare earth permanent magnets.
For more information about Energy Fuels and its operations, visit the company's newsroom at http://ibn.fm/UUUU.
