Energy Fuels (NYSE-A: UUUU; TSX: EFR) has commissioned a $20-million rare earths separation plant in Utah in record time, CEO Mark Chalmers says in a new video.
It made on-spec neodymium-praseodymium (NdPr) in less than a week at its White Mesa uranium mill. The plant is part of the company’s plan to build a U.S. mineral hub that produces uranium, rare earth elements and heavy mineral sands, Chalmers said.
“Some people have told me it’s going to take years to get there and we did it in literally a week,” the CEO said at the Prospectors and Developers Association of Canada’s annual convention in Toronto. “We have a market cap of about $1 billion and it provided us with the strength to execute our strategy.”
Energy Fuels uses its experience to recover uranium from different feed streams. It also processes monazite, which contains rare earth oxides. The company seeks to scale production to 6,000 tonnes a year of NdPr and advance projects in Madagascar, Australia and Brazil.
Watch the full interview below with The Northern Miner western editor, Henry Lazenby.
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