Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements and other critical minerals, announced that high-purity neodymium-praseodymium (NdPr) oxide from its White Mesa Mill in Utah has been successfully manufactured into commercial-scale rare earth permanent magnets (REPMs) by South Korea’s largest drive unit motor core producer. The REPMs passed all QA/QC benchmarks for use in EV drive units sold to major automakers worldwide. This milestone establishes a U.S.-based “mine-to-magnet” supply chain independent of China, with Energy Fuels’ NdPr oxide validated for high-temperature drive units expected in EVs and hybrids within months. CEO Mark Chalmers said the achievement demonstrates Energy Fuels’ ability to deliver commercial-grade rare earth materials, with plans to add heavy rare earth oxide capacity at White Mesa in 2026.
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About Energy Fuels
Energy Fuels is a leading U.S.-based, global critical minerals company, focused on uranium, rare earth elements, heavy mineral sands, vanadium and medical isotopes. The Company owns and operates several conventional and in-situ uranium projects in the western U.S., as well as the White Mesa Mill, which is the only operating conventional uranium mill in the U.S. The Mill also houses the Company’s commercial-scale rare earth processing circuits. Additionally, Energy Fuels is developing heavy mineral sand projects around the world to supply titanium and zirconium minerals to global markets, along with monazite to the Mill for processing into separated rare earth oxides.
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