- An ever-increasing demand for energy is fueling the focus on sustainable energy solutions.
- UUUU is proud to produce the raw materials that make numerous clean-energy and advanced technologies possible.
- Energy Fuels began producing rare earths in 2021, which are used in electric vehicles, renewable energy, batteries and other technologies.
As the world becomes more focused on and committed to clean energy and sustainability, companies in every sector are recognizing the importance of advancing ESG (environmental, sustainability, and governance) priorities. A leading U.S.-based uranium mining company Energy Fuels (NYSE American: UUUU) (TSX: EFR) places a high priority on its efforts to produce raw materials that support global clean-energy efforts.
“As the world population continues to grow, there is an ever-increasing demand for energy, and renewable sources are the answer to providing sustainable energy solutions, while also protecting the planet from climate change,” states a TWI article. “The take-up of clean energy is not just happening on a national level as cities and states are also creating policies to increase renewable energy use.
“In the United States, 29 states have set renewable energy portfolios to mandate that a certain percentage of energy consumed should come from renewable sources, and over 100 cities around the world now use at least 70% renewable energy,” the article continued. “The most important aspect of clean energy are the environmental benefits as part of a global energy future.
“While clean, renewable resources also preserve the world’s natural resources, they also reduce the risk of environmental disasters, such as fuel spills or the problems associated with natural gas leaks,” the article states. “With fuel diversification, through different power plants using different energy sources, it is possible to create reliable power supplies to enhance energy security, ensuring there is enough to meet our demands.”
With that as a backdrop, Energy Fuels does much more than just product uranium, which is the fuel for nuclear energy, producing 50% of all clean, carbon-free electricity in the U.S. “Energy Fuels is proud to produce the raw materials that make numerous clean energy and advanced technologies possible, all in the U.S. at the highest global standards for health, safety and environmental protection,” noted UUUU president and CEO Mark Chalmers (https://ibn.fm/nLhFh). In addition to producing uranium, the fuel for carbon- and emission-free nuclear energy, UUUU began operations to recover rare earth elements (“REEs”) in 2021, which are used in electric vehicles, renewable energy, batteries and other clean technologies.
Also worth noting is that, in 2019, the company was the largest U.S. producer of vanadium, which is used in steel, high-strength alloys and grid-scale batteries. Finally, in addition to its efforts to produce material, Energy Fuels is committed to preserving global resources and addressing climate change through industry-leading recycling programs.
Not a company to rest on its laurels, Energy Fuels is also exploring other business opportunities, including evaluation the recovery of medical isotopes for use in emerging cancer therapies from existing process streams.
Energy Fuels is the 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, and began commercial production of REE carbonate in 2021. 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 U.S. 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, as well as REE carbonate and uranium from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year.
In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development.
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