Energy Fuels(UUUU) Prnewswire·2025-03-17 11:00Core Viewpoint - The collaboration between Energy Fuels and POSCO aims to establish a non-China rare earth element (REE) supply chain for electric vehicles (EVs) and hybrid EVs, potentially benefiting U.S., E.U., Japanese, and South Korean automakers [2][4]. Group 1: Collaboration Details - Energy Fuels signed a strategic Memorandum of Understanding (MOU) with POSCO to outline the terms of their collaboration [2]. - The partnership seeks to link Energy Fuels' U.S. rare earth oxide production with POSCO's expertise in traction motor cores, which are essential for EV drivetrains [1][3]. - Initial qualification samples of Energy Fuels' neodymium-praseodymium (NdPr) oxide have met POSCO's specifications, paving the way for larger-scale samples to be supplied for further processing [4][5]. Group 2: Market Impact - The collaboration could enable the production of high-performance permanent REE magnets in the U.S., which would be used in vehicles for the U.S. and European markets as early as this year [3][4]. - Upon successful validation, the NdPr oxide supplied by Energy Fuels could power over 30,000 EVs, with potential consumer availability later this year [5][6]. - The MOU includes intentions for long-term supply discussions, allowing Energy Fuels to maintain significant volumes for other customers while supporting commercial-scale REE production initiatives in the U.S. [6][8]. Group 3: Company Background - Energy Fuels is a leading U.S. producer of uranium, REEs, and heavy mineral sands, with a focus on critical minerals [9]. - The company operates the White Mesa Mill in Utah, the only fully licensed conventional uranium processing facility in the U.S., and is involved in various HMS projects globally [9][11]. - Energy Fuels has been the leading U.S. producer of natural uranium concentrate, which is sold to nuclear utilities for carbon-free energy production [9].