CM – Energy Fuels and Hyperion are teaming up for potential rare earth business

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White Mesa mill from Energy Fuels, Utah

Vimy ready for ‘uranium boom’

The couple have signed a Memorandum of Understanding to evaluate the potential delivery of « Very Valuable Rare Earth Material » from Hyperion’s Titanium Project in Tennessee to Energy Fuels’ White Mesa Mill in Utah / p> The two companies said they would also consider a possible collaboration agreement to develop a fully integrated US rare earths supply chain « mine to market ».

Vimy ready for ‘uranium boom’

Energy Fuels is currently evaluating the potential to develop downstream rare earths (REE) capabilities at White Mesa « or near ».

The company announced a year ago that it would enter the rare earths sector to expand its core business This was done through agreements to acquire monazite from the Chemours Company’s Georgia operations and process it at White Mesa to produce uranium and a REE carbonate, and then feed it to Neo Performance Materials listed on TSX for sale for its Europe Separation Plant, which REE makes value-added products.

Hyperion’s titanium monazite could add to Chemours supply once approval, development and commissioning are completed .

Phase 3 drilling and bulk sampling was nearing completion and production of titanium minerals, monazite, zircon and high quality silica was assessed.

« Our together Working with Energy Fuels underscores the importance of Hyperion’s Titanium Project in the US as a leader in critical minerals from the US, as it includes plans to make titanium metals without carbon and provides a clean energy future by supplying rare earth elements for electric vehicles and the renewable energies, « said MD Anastasios Arima.

Mark Chalmers, President and CEO of Energy Fuels, looked forward to working with the Hyperion team.

 » By working with the Piedmont Lithium project in South Carolina has shown us members of the Hyperion team that they have the expertise and resources to bring critical mineral projects into production in the US, « he said.

His shares rose more than 17 in the afternoon session % down to 96 cents, near the top of a year range, and valued it at around $ 85 million ($ 66 million).

Its stocks (NYSE American: UUUU) were trading in the ver last year between 1.38 and 7.83 USD and closed 5.7% to 5.53 USD, which corresponds to a capital of 785 million USD.

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Related title :
– <a href = "/? s = Energy Fuels, Hyperion Teams Up For A Potential Rare Earth Deal Potential Rare Earth Deal Earths
– <a href = "/? S = Hyperion Metals (ASX: HYM) Inks Potential Rare Earth Supply Chain Partnership Agreement US Rare Earth Supply Chain Agreement
Energy Fuels and Hyperion Sign MOU for the supply of monazite for the production of rare earth products

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