Energy Fuels Inc. Achieves Commercial Production of On-Spec NdPr

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) announced the achievement of commercial production of separated neodymium-praseodymium (NdPr) at its White Mesa Mill in Utah. This NdPr meets the specifications required by manufacturers of rare earth element (REE)-based alloys, essential for permanent magnets 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 shipments expected by the end of the month. This development is notable as it represents the first commercial-scale production of on-spec separated REE from monazite in the U.S. in several decades.

The production of NdPr is a critical step in the supply chain for EVs and hybrid vehicles, which rely on permanent magnets for their electric motors. Energy Fuels' ability to produce on-spec NdPr domestically reduces reliance on foreign sources, enhancing the U.S. position in the global REE market. The White Mesa Mill, the only conventional uranium mill operating in the U.S., demonstrates its versatility by adding REE production to its capabilities, alongside uranium and vanadium production.