In a recent InvestorIntel interview, Tracy Weslosky speaks with Mark Chalmers, President and CEO of Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) and Constantine Karayannopoulos, President, CEO and Director of Neo Performance Materials Inc. (TSX: NEO) about their recent signing and launch of commercial shipments of rare earth product to Europe.
This significant news was accompanied by a physical shipment of commercial quantities of rare earths from Energy Fuels’ White Mesa Mill in Utah to Neo Performance Materials’ plant in Estonia and represents an important milestone in the creation of a new rare earths supply chain.
In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Mark went on to say that Energy Fuels has surprised the world with its quick progress in the rare earths space. He added that Energy Fuels is capable to quickly ramp up rare earth carbonates production from monazite sand and is exploring opportunities to secure more sources of monazite sands. Constantine told InvestorIntel that rare earth carbonates from Energy Fuels’ White Mesa Mill in Utah will be processed into separated rare earth materials at Neo’s Silmet rare earth separations facility for use in rare earth permanent magnets and other rare earth based advanced materials. He also explained how the deal creates a win-win situation for both Energy Fuels and Neo.
To watch the full interview, click here.
About Neo Performance Materials Inc.
Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials — magnetic powders and magnets, specialty chemicals, metals, and alloys — are critical to the performance of many everyday products and emerging technologies. Neo’s products help to deliver the technologies of tomorrow to consumers today. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals. Neo is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, US; Singapore; and Beijing, China. Neo operates globally with sales and production across 10 countries, being Japan, China, Thailand, Estonia, Singapore, Germany, United Kingdom, Canada, United States, and South Korea.
About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to 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, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8per year. 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.
To learn more about Neo Performance Materials Inc., click here.
To learn more about Energy Fuels Inc., click here.
Disclaimer: Neo Performance Materials Inc. and Energy Fuels Inc. are advertorial members of InvestorIntel Corp.
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