Energy Fuels Partners Nanoscale Powders to Develop Rare Earth Manufacturing Technology

Energy Fuels recently announced the signing of a Memorandum of Understanding (MOU) with Nanoscale Powders LLC (NSP) to develop a novel technology for the production of rare earth elements (REEs). This rare earth manufacturing technology, initially developed by NSP and to be jointly advanced by the Company and NSP, has the potential to revolutionize the rare earth metals manufacturing industry by lowering production costs, reducing energy consumption, and significantly reducing greenhouse gas (GHG) emissions.

The production of REE metals and alloys is a key step in the REE supply chain, after the production of separated REE oxides and before the manufacture of NdFeB magnets for electric vehicles, wind power, and other clean energy and advanced technologies.

Energy Fuels is building a new, environmentally friendly REE supply chain in the U.S. The project with NSP is an exciting opportunity to significantly improve the rare earth manufacturing process and potentially give it a competitive advantage in the REE supply chain.

The company is producing hybrid REE carbonates at its White Mesa, Utah, facility while recovering uranium from natural monazite sands, a low-cost byproduct of heavy mineral sands mining in the U.S. and globally. The company's rare earth carbonates are the most advanced rare earth products currently produced in the U.S.

The company is also rapidly producing rare earth oxides at the plant using proven solvent extraction technology. The plant has over 40 years of experience producing uranium and vanadium oxides using SX technology.

The production of REE metal using this technique will involve feeding anhydrous REE chloride material into a molten sodium bath. A rapid reaction occurs between the molten sodium and the REE chloride. The process is highly exothermic, releasing energy, so the molten sodium acts as a control for the reaction rate. The reaction products are REE metal and sodium chloride, often referred to as salt.

The NSP sodium method of REE metal reduction has several advantages over industry-standard REE metal fabrication methods, which utilize electrolytic reduction of REE oxides using molten lithium fluoride/REE fluoride solutions. First, the NSP process does not have any associated air emissions and is a significant improvement over current technology, which emits the greenhouse gas carbon fluoromethane (CF₄).

Second, current estimates indicate that the NSP process is substantially less expensive to operate than conventional electrolysis methods because it does not consume graphite crucible material and uses significantly less energy and labor. Finally, the NSP process requires anhydrous chloride feeds, which we believe can be generated directly from the planned rich stream in the plant. This would eliminate the need for oxalate precipitation and calcination of the material used to make the REE metal. Current estimates of operating cost savings are likely to be several times less than conventional REE metal fabrication methods.

Under the MOU, the parties will negotiate and enter into a binding agreement (definitive agreement) to manage the project, including the creation of a new entity that will hold an exclusive license to the technology related to the manufacture of rare earth metals. The MOU contemplates the phased development of the project to expand to the production of 1,000 metric tons per year of one or more rare metals.

Once the project is successfully completed and the $10 million investment is secured, Energy Fuels will control exclusive rights to the entity and technology as it relates to rare earth manufacturing. The company also has the right to cease funding at various decision points during the project, at which time the company will hold a percentage of the new entity and technology proportional to the amount of its contribution.

The next step in rare earth processing and refining is to turn these separated rare earth oxide powders into usable rare earth metals and alloys, particularly the NdPr metals needed for NdFeB magnets used in electric vehicles, wind power and other technologies," said Mark S. Chalmers, president and chief executive officer of Energy Fuels. We are interested in Nanoscale Powders' technology because we believe it has the potential to produce rare earth metals at a lower cost, using less energy and producing fewer greenhouse gas emissions than traditional rare earth manufacturing methods."

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