U.S. Mined and Processed Rare Earths Successfully Manufactured into Permanent Magnets for Use in EVs and Hybrids

Core Insights - Energy Fuels has received final confirmation that its high-purity neodymium-praseodymium (NdPr) oxide is qualified for use in rare earth permanent magnets (REPMs) for electric and hybrid vehicles [1][2][3] - The production of REPMs from Energy Fuels' NdPr oxide represents a significant step towards establishing a "mine-to-magnet" supply chain independent of China [3][4] - Energy Fuels plans to expand its production capacity for heavy rare earth oxides, including dysprosium oxide, at its White Mesa Mill in Utah by 2026 [4][5] Company Developments - Energy Fuels has successfully manufactured NdPr oxide into commercial scale REPMs, which have passed all quality assurance benchmarks for major automotive manufacturers [2][3] - The company has processed 1.2 metric tonnes of NdPr oxide into approximately 3.0 metric tonnes of REPMs, sufficient to power around 1,500 new electric and hybrid vehicles [4] - Energy Fuels is the only facility in North America licensed to produce high-purity rare earth oxides from monazite, sourced from operations in Florida and Georgia [5] Industry Impact - The successful validation of Energy Fuels' NdPr oxide is expected to enhance the domestic supply chain for critical minerals, particularly for the electric vehicle market [3][4] - The company's advancements in rare earth production are aligned with the growing demand for electric vehicles and the need for secure supply chains outside of China [3][4] - Energy Fuels' initiatives contribute to the restoration of domestic critical mineral supply chains, which is crucial for both commercial and defense applications [4][6]