Energy Fuels Produces Rare Earths for EV Magnets from Utah Facility

Energy Fuels has manufactured rare earths from its Utah operation into permanent magnets for electric vehicles (EVs). The company is a critical minerals producer focused on uranium, rare earth elements, heavy mineral sands, vanadium, and medical isotopes. It operates several uranium projects in the US and owns the White Mesa Mill in Utah. Energy Fuels is also developing HMS projects in Kenya, Madagascar, Brazil, and Australia.

Energy Fuels Inc., a leading U.S.-based critical minerals company, has achieved a significant milestone in the rare earth elements (REEs) sector. The company has successfully manufactured rare earth permanent magnets (REPMs) for electric vehicles (EVs) using high-purity neodymium-praseodymium (NdPr) oxide produced at its White Mesa Mill in Utah. This development marks a crucial step in building a domestic supply chain for REPMs, independent of China.

Energy Fuels announced that its NdPr oxide has been qualified for use in high-temperature drive units, which are installed in EVs and hybrid electric vehicles (HEVs) manufactured by major automotive companies across North America, the EU, Japan, and Korea. The NdPr oxide was processed into NdFeB alloy sintered blocks (45H grade) and high-performance, high-temperature NdFeB REPMs by South Korea's largest manufacturer of drive unit motor cores.

The successful production of REPMs from Energy Fuels' NdPr oxide signifies a major breakthrough in the "mine-to-magnet" supply chain. The company's NdPr oxide was derived from monazite concentrates mined in Florida and Georgia and processed at the White Mesa Mill. This facility is the only one in North America currently licensed and capable of producing high-purity REOs from monazite.

The 1.2 metric tonnes of NdPr oxide supplied by Energy Fuels earlier this year resulted in approximately 3.0 metric tonnes of REPMs, sufficient to power around 1,500 new EVs and HEVs. The company has received 25 kilograms of the 45H grade NdFeB sintered block alloys as a testament to this landmark achievement.

Energy Fuels is also developing heavy mineral sands (HMS) projects in Kenya, Madagascar, Brazil, and Australia to supply titanium and zirconium minerals to global markets. The company's focus on critical minerals, including REEs, positions it as a key player in the global market for EV components.

The successful production of REPMs from Energy Fuels' NdPr oxide is a significant step towards restoring domestic critical mineral supply chains. The company's ability to produce high-purity REOs at scale and meet commercial and defense requirements underscores its capacity and expertise in the REE sector.

References:
[1] https://www.prnewswire.com/news-releases/us-mined-and-processed-rare-earths-successfully-manufactured-into-permanent-magnets-for-use-in-evs-and-hybrids-302548989.html
[2] https://www.marketscreener.com/news/energy-fuels-says-its-rare-earths-from-utah-manufactured-into-permanent-magnets-for-evs-ce7d59dfde8df524