Energy Fuels (NYSE American: UUUU) (TSX: EFR) CEO Mark Chalmers recently voiced his concerns regarding the United States’ dependence on uranium imports during a corporate presentation (http://ibn.fm/ByKCn). An article further discussing the concerns reads, “‘Similarly, we are also dependent on imports of rare earth elements from China,’ he said, referring to China’s 90% control of global markets for rare earth elements (http://ibn.fm/Jfjn6). . . . This dilemma has spurred several initiatives by the Trump administration, including the president issuing determinations that declare rare earth elements essential to national security, the U.S. Department of Interior declaring uranium and vanadium (another metal produced by Energy Fuels) critical to America’s security and economic prosperity, and the pursuit of $1.5 billion in funds to purchase uranium directly from domestic producers to create a strategic U.S. uranium reserve. In addition, the President’s Nuclear Fuel Working Group released its report on April 23, 2020, which represents the strongest commitment since the 1970s by the U.S. government to support domestic uranium miners.”
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About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects as market conditions warrant. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) project in Wyoming and the Alta Mesa ISR project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the United States today, has a licensed capacity of over 8 million pounds of U3O8 per year and has the ability to produce vanadium when market conditions warrant. The Nichols Ranch ISR project is in operation and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR project is currently on standby. In addition to these production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. along with several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” For more information, visit the company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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