Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) has announced the achievement of commercial production of separated neodymium-praseodymium (NdPr) at its White Mesa Mill in Utah. This development is notable as the NdPr produced meets the specifications required by manufacturers of rare earth element (REE)-based alloys, which are essential for the permanent magnets used in electric vehicles (EVs) and hybrid technologies. 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 commercial quantities expected to be available for shipment by the end of the month.
This milestone represents the first time in several decades that a U.S. company has produced on-spec separated REE from monazite on a commercial scale. The ability to domestically produce NdPr is crucial for the U.S. as it seeks to reduce its dependence on foreign sources of rare earth elements, which are vital for the clean energy sector and national security. Energy Fuels' achievement could have significant implications for the EV industry, supply chain security, and the broader push towards sustainable energy solutions.
