The latest update is out from Energy Fuels ( (TSE:EFR) ).
Energy Fuels Inc. has signed a Memorandum of Understanding with South Korea-based POSCO International to create a non-China rare earth magnet supply chain. This collaboration aims to link Energy Fuels’ U.S. rare earth oxide production with POSCO’s expertise in traction motor cores, potentially enabling the production of permanent rare earth magnets for electric vehicles in the U.S., Europe, Japan, and South Korea. The agreement could significantly impact the market by providing a scalable and geopolitically shielded supply chain for rare earth elements, with plans to power over 30,000 electric vehicles by the end of the year.
More about Energy Fuels
Energy Fuels Inc. is a leading U.S. producer specializing in uranium, rare earth elements (REE), and heavy mineral sands (HMS). The company focuses on producing high-purity rare earth oxides and aims to establish a supply chain independent of China, leveraging high-grade monazite feedstock from U.S.-allied nations.
YTD Price Performance: -27.29%
Average Trading Volume: 7,475,651
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $864.4M
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