MiningNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Making Strides to Restore Critical US Rare Earth Supply Chains

Company: Energy Fuels Inc. (UUUU)
Category: Stock Spotlights

Energy Fuels (NYSE American: UUUU) (TSX: EFR) continues to focus on its efforts to produce commercial rare earth elements (“REEs”) as well as on uranium production as the U.S. government looks to support moves to limit dependence on other countries for the mining and production of various metals. “Without a doubt, Energy Fuels is making major strides toward restoring critical U.S. rare earth supply chains while also maintaining our position as the leading U.S. uranium producer,” said UUUU’s president and CEO Mark S. Chalmers in a recent update. “On rare earths, our efforts over the past several months culminated in the announcement on March 1 that Energy Fuels and Neo Performance Materials were creating a new, U.S.-European rare earth supply chain. In early March, we began to receive shipments of rare-earth-rich natural monazite sands from Chemours’ Georgia heavy mineral sand operations. In late-March, we began to ramp-up production of an intermediate rare earth product at our White Mesa Mill in Utah using monazite from Chemours. This is expected to be a high-value product ready to be separated and refined into value-added rare earth products at Neo’s plant in Europe. At this time, no other U.S. company is producing a product this far down the rare earth value chain.”

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About Energy Fuels Inc.

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant, and is in the process of ramping up to expected commercial production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year and has the ability to produce vanadium when market conditions warrant, as well as REE carbonate and uranium from monazite. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” For more information, visit the company’s website at www.EnergyFuels.com.

NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU

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