UUUU - Energy Fuels to enter commercial rare earths business with Chemours deal

Energy Fuels (UUUU) +11.7% pre-market after announcing it has entered into a supply agreement with Chemours (CC) to process monazite at its White Mesa mill in Utah, starting in Q1 2021.Energy Fuels would process a minimum of 2,500 tons/year of natural monazite sands, recover the contained uranium, and produce a marketable mixed rare earth element carbonate, "representing an extremely important step toward re-establishing a fully-integrated U.S. REE supply chain."The monazite sands would come from Chemours' Offerman mineral sand plant in Georgia.Energy Fuels says it would become the first U.S. company in several years to produce a marketable mixed REE concentrate ready for separation on a commercial scale; it estimates the amount of REEs contained in the monazite sands to be supplied by Chemours would equal ~10% of total current U.S. REE demand, as contained in end-use products.The company says it is also in talks with other entities to acquire additional supplies

For further details see:

Energy Fuels to enter commercial rare earths business with Chemours deal