Energy Fuels (UUUU) said Thursday that it has developed the technology to produce six of the seven rare earth oxides at scale that are now subject to newly enacted Chinese export controls.
The company said its White Mesa Mill in Utah has the commercial capacity to process monazite ore concentrates into separated neodymium-praseodymium oxide and it now believes it has the expertise to produce other rare earths, pending government support and/or favorable market conditions.
With further expansion, Energy Fuels said it could scale production of additional rare earth oxides -- including samarium, gadolinium, dysprosium, terbium, lutetium, and yttrium -- within as little as 12 months, given appropriate government support.
Shares of Energy Fuels were more than 10% higher in recent premarket trading.
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