Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of rare earth elements, uranium, and other critical materials, announced that its terbium oxide has successfully passed all qualifications for use by one of the world's largest manufacturers of rare earth permanent magnets outside China. The Japan-based manufacturer confirmed that the terbium oxide produced at Energy Fuels' White Mesa Mill in Utah meets its specifications and is approved for commercial rare earth permanent magnet production with no further qualification or validation required.
Terbium is a critical element used to improve the heat resistance and performance of high-strength neodymium-iron-boron (NdFeB) permanent magnets, which are essential components in electric vehicles, wind turbines, and various electronics. According to Benchmark Mineral Intelligence, terbium currently commands a market price of approximately $5.5 million per tonne, underscoring its strategic value in the global supply chain.
This development follows Energy Fuels' previous announcements regarding the qualification of its neodymium-praseodymium (NdPr) and dysprosium oxides for rare earth permanent magnet manufacturing. The company's ability to supply multiple critical magnet elements positions it as a significant player in the Western rare earth supply chain, which is seeking to reduce dependence on Chinese sources.
Energy Fuels is also progressing on its pending acquisitions of Australian Strategic Materials (ASM) and Vacuumschmelze (VAC). Upon completion of these deals, the company expects to become the leading vertically integrated "mine-to-rare earth permanent magnet" producer in the U.S. and Europe. The NdPr, terbium, and dysprosium oxides produced at the White Mesa Mill will serve as key components of this integrated supply chain, enhancing the company's ability to meet the growing demand for rare earth magnets outside China.
The qualification of terbium oxide is a milestone for Energy Fuels, as it validates the quality and reliability of its production processes. The company's White Mesa Mill is the only fully licensed conventional uranium mill operating in the U.S., and it has been adapted to also produce rare earth elements, demonstrating operational flexibility and technical expertise.
Energy Fuels is headquartered in Lakewood, Colorado, and its shares trade on the NYSE American under the ticker "UUUU" and on the TSX under "EFR". The company continues to focus on becoming a leading supplier of critical materials essential for the clean energy transition and national security.
