Energy Fuels received first shipments of natural monazite ore to its White Mesa Mill, in Blanding Utah. The mineral arrived by truck at the Mill after the Chemours Company separated it at its Offerman Mineral Sand Plant in Georgia.
Firstly, natural monazite is a rare mineral, but one with the highest value in the rare earth element (REE) supply chain. REE are valuable for many technologies like magnets and batteries used in electric vehicles, and also other advanced technologies.
Secondly, after the shipments, Energy Fuels will ramp up production of an intermediate REE product; called “mixed REE carbonate.” This product will then advance to REE separation; which is the next step in its value chain.
Thirdly, from the separation of the ore, Energy Fuels will recover uranium; which will be used as fuel for generation of clean, carbon-free nuclear energy. After this process, the company intends to produce this REE product at a stage more advanced than any other company in the U.S.
Moreover, Energy Fuels has already an agreement with the company Neo Performance Materials, based in Europe. Neo will separate other rare earth products and will make them available for the U.S. and European markets, completing a virtuous commercial circle.
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Monazite and rare earths enable advanced electronics and clean energy solutions
On the other hand, Energy Fuels will continue to develop additional rare earth products with added value for the Utah market.
In addition, Mark S. Chalmers, Energy Fuels CEO, said. “Our company, along with Neo and Chemours have quietly worked to create something very significant: a new, fully-integrated, U.S.-Europe rare earth supply chain.”
He also added: “there is a lot of excitement building for rare earths; because they make many clean energy and advanced technologies possible, including electric vehicles; also, wind generation, batteries and advanced electronics.”
“We intend to optimize our production of a mixed rare earth carbonate; and then also move on to developing our own ability to manufacture separated rare earth products at our plant in Utah,” Chalmers concluded.
Finally, the monazite mineral is mined in the U.S., Australia, and Africa. It is a byproduct of heavy mineral and sand operations, mainly zircon and titanium.
