Energy Fuels and Vulcan Elements Sign MOU to Strengthen U.S. Rare Earth Magnet Supply Chain

Energy Fuels Inc. has signed a Memorandum of Understanding (MOU) with Vulcan Elements to enhance the U.S. rare earth magnet supply chain. Energy Fuels will supply high-purity rare earth oxides sourced from U.S. mines for the production of rare earth permanent magnets. This collaboration aims to create a resilient domestic supply chain for various commercial and defense applications, utilizing Energy Fuels’ White Mesa Mill in Utah, the only U.S. facility capable of processing monazite mineral concentrates into separated rare earth oxides.