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Benzinga
Benzinga
Business
Akanksha Bakshi

Energy Fuels Sets Stage For US-Made Rare Earth Magnets Powering AI And EVs

Energy Fuels United States Vulcan Energy Fuels Inc UUUU Vulcan Elements Supply chain
Stack,Colorful,3d,Cubes,Labeled,With,The,17,Rare-earth,Elements,

Energy Fuels Inc. (NYSE:UUUU) shares surged after the company announced a memorandum of understanding with Vulcan Elements to build a U.S.-based supply chain for rare-earth magnets.

Under the deal, Energy Fuels will supply high-purity neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides to Vulcan later this year for testing and future magnet production. The oxides will be refined at its White Mesa Mill in Utah using mineral concentrates from Florida and Georgia.

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