Energy Fuels Inc & Neo Performance Materials Inc in Coordination with Chemours Co (NYSE:CC) to Develop Rare Earth Product

Energy Fuels Inc & Neo Performance Materials Inc announces that Energy Fuels produce a container that weighs around 20 tonnes of mixed rare earth carbonate at White Mesa Mill in Utah. Production of more shipments of RE Carbonate is also in the pipeline. 

Thanks to excellent mining work carried out by Chemours Co (NYSE:CC) in Georgia, Energy Fuels aims to process natural monazite sand ore for both the naturally occurring uranium & rare earth elements.

Producing Rare Materials

This new supply chain will initially produce rare earth products from monazite processed into RE Carbonate at Energy Fuels’ Mill in Utah. 

Processed by Neo at Silmet rare earth processing facility located in Sillamäe, Estonia, RE Carbonate is separated into rare earth oxides & value-added rare earth compounds. In Europe, Neo is the primary producer of separated rare earth oxides. 

Monazite that contains naturally occurring uranium is produced as a byproduct of existing heavy mineral sands mining. Monazite is used for delivering carbon-free nuclear energy.

The Story

Energy Fuels is the only company in North America that develops Monazite-derived materials. The production of RE Carbonate will further enhance rare earth materials that include Monazite-derived materials. In addition, the launch of Monazite-derived materials will facilitate various vendors in developing application-specific products in Japan, North America, Europe, & other nations.

The Agreement

Energy Fuels & Neo also announced the signing of an agreement under which Energy Fuels will supply RE Carbonate to Silmet rare earth separations facility of Neo. 

Thanks to that, Neo will process RE Carbonate of Energy Fuels into rare earth materials. The material will be used for developing rare earth permanent magnets & other rare-earth-based enhanced materials. As the demand for value-added rare earth materials is surging in the manufacturing market of Europe, Neo aims to meet the requirements of the market by supplying the materials. Following this brilliant strategy will also help Neo expand its wings and surge its growth in the market. For over 50 years, Silmet has successfully separated rare earth into commercial value-added products

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