Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) and The Chemours Co. (NYSE: CC) have formed a strategic alliance aimed at enhancing U.S. domestic rare earth and critical mineral supply chains. This partnership is designed to address the increasing demand for these resources by leveraging the complementary geographic and operational strengths of both companies.
Energy Fuels, a Lakewood-based producer of rare earth elements, is developing new heavy mineral sands projects in Madagascar, Brazil and Australia, which are expected to produce significant quantities of rare earth, titanium ilmenite and zircon minerals. Chemours operates heavy mineral sands mines in Florida and Georgia.
“Energy Fuels and Chemours each have unique, complementary capabilities, which can be deployed to solve many of America’s critical mineral supply chain challenges in rare earth elements, titanium and zirconium. Energy Fuels and Chemours have collaborated successfully over the past four years, and we look forward to expanding our relationship in this key area,” said Mark Chalmers, president and CEO of Energy Fuels.
Rich Nolan, president and CEO of the National Mining Association, applauded the alliance, saying, “Today’s announcement is a prime example of the mining industry’s desire to help drive the reshoring of our mineral supply chains and ramp up domestic production to meet the massive mineral demands of modern society. Secure supply chains begin at home — where we do things in accordance with the world’s highest environmental, labor and safety standards.”
