Energy Fuels and Vulcan Elements Join Forces to Advance U.S. Rare Earth Magnet Security

Core Viewpoint - Energy Fuels and Vulcan Elements have signed a Memorandum of Understanding (MOU) to establish a domestic supply chain for rare earth magnets in the U.S., aiming to reduce dependence on China for high-purity rare earth oxides [1][4]. Group 1: Collaboration Details - Under the MOU, Energy Fuels will supply initial quantities of high-purity "light" and "heavy" rare earth oxides to Vulcan in Q4 of 2025, which will be validated for rare earth magnet production [2]. - The rare earth oxides will be sourced exclusively from U.S. mines, with Energy Fuels' White Mesa Mill in Utah being the only facility capable of processing monazite mineral concentrates into separated rare earth oxides [3]. Group 2: Company Profiles - Energy Fuels is a leading U.S.-based critical minerals company focused on uranium, rare earth elements, and other minerals, operating the White Mesa Mill, which produces advanced rare earth products [8]. - Vulcan Elements manufactures permanent sintered neodymium iron boron (NdFeB) magnets in the U.S. for defense and commercial applications, committed to strengthening the domestic rare earth magnet supply chain [6]. Group 3: Market Context - Rare earth magnets are essential for various applications, including satellites, robotics, AI data centers, and electric vehicles, highlighting the strategic importance of this collaboration for U.S. economic and security interests [1][4].