November 7, 2024 — In a recent interview with Investor.News host Jack Lifton, Curtis Moore, Senior Vice President of Marketing and Corporate Development at Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR), highlighted the company’s evolving role in the U.S. critical minerals sector. Energy Fuels, a leading U.S.-based uranium producer, is broadening its focus to include rare earth elements (REEs) along with two other critical minerals, titanium, and zirconium, which are essential for high-tech and industrial applications. Moore discussed the company’s unique White Mesa Mill in Utah—the only conventional uranium mill in the U.S.—as a pivotal facility capable of processing uranium and various feedstocks containing rare earths. “We have proven up our ability to extract and separate rare earths at our facility in Utah,” he noted, underscoring Energy Fuels’ potential to become a significant non-Chinese source for these critical minerals.
Moore also outlined Energy Fuels’ strategy for vertical integration, which includes advancing downstream capabilities to produce magnets essential for industries like electric vehicles and wind energy. “End users really need magnets,” Moore stated, emphasizing the company’s exploration into metal and alloy production to better meet market needs. This approach aligns with Energy Fuels’ recent acquisition of Base Resources Limited (ASX: BSE), which brings the Toliara HMS project in Madagascar into the fold—a project Moore described as having “a $1 billion NPV” based on titanium and zirconium alone, with even greater potential for rare earth production through monazite processing. Moore emphasized Energy Fuels’ strategic position to unlock substantial value across its projects, aspiring to lead in titanium, zirconium, and rare earth production as it builds out a robust global supply chain.
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About Energy Fuels Inc.
Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, HMS, vanadium and medical isotopes. The Company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy and owns and operates several conventional and in situ recovery uranium projects in the western United States. The Company also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the Mill, the Company also produces advanced REE products, vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The Company also owns the operating Kwale HMS project in Kenya which is nearing the end of its life and is developing three (3) additional HMS projects, including the Toliara Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia in which the Company has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The Company is based in Lakewood, Colorado, near Denver, with its heavy mineral sands operations managed from Perth, Australia.
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This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.
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