Energy Fuels and Chemours Forming Strategic Alliance to Create a Domestic Supply Chain of Critical Minerals for the United States
Energy Fuels and Chemours Forming Strategic Alliance to Create a Domestic Supply Chain of Critical
Minerals for the United States
DENVER, March 18, 2025 — Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) and The Chemours
Company (NYSE: CC) today announced they are forming a strategic alliance to expand the companies’
existing relationship to enhance U.S. domestic rare earth and critical mineral supply chains to meet
increasing demand.
The alliance will capitalize on the complementary geographic and operational synergies of both
organizations. Energy Fuels, a leading U.S. producer of rare earth elements, is currently developing new
heavy mineral sands projects in Madagascar, Brazil, and Australia, expecte d to produce world-scale
quantities of rare earth, titanium ilmenite and zircon minerals in the coming years. Chemours mines and
separates heavy mineral sands from its mines in Florida and Georgia.
“Energy Fuels and Chemours each have unique, complementary capabilities , which can be deployed to
solve many of America’s critical mineral supply chain challenges in rare earth elements, titanium and
zirconium. Energy Fuels and Chemours have collaborated successfully over the past four years, and we
look forward to expanding o ur relationship in this key area,” said Mark Chalmers, President and CEO of
Energy Fuels.
“Chemours is proud to play a role in strengthening U.S. critical and rare earth mineral supply. This is a
transformative time in our industry, and we are fortunate to have found a likeminded U.S. partner in
Energy Fuels for this important work,” said Damián Gumpel, President of Chemours Titanium Technologies.
Rich Nolan, President and CEO of the National Mining Association applauded the news saying, “Today’s
announcement is a prime example of the mining industry’s desire to help drive the reshoring of our
mineral supply chains and ramp up domestic production to meet the massive mineral demands of modern
society. Secure supply chains begin at home—where we do things in accordance with the world’s highest
environmental, labor and safety standards.”
Chairman Mike Lee (R -UT) shared, "America’s economic and national security depends on a strong,
domestic supply chain for critical minerals. This agreement is a major step toward securing that supply,
ensuring that rare earth elements, titanium, and zirconium are sourced and processed here at home. By
combining their strengths, these two companies are reinfor cing America’s industrial base and reducing
our reliance on foreign adversaries for materials essential to energy, defense, and advanced
manufacturing."
“The United States cannot rely on our adversaries for the natural resources essential to our economy and
national security. We should be leading the way in producing critical minerals —after all, we do it better
and cleaner than anywhere else,” said Senator John Curtis (R-UT). “I applaud Energy Fuels and Chemours
on their strategic alliance to strengthen America’s domestic critical mineral supply chain. This partnership
will directly support the White Mesa Mill in Utah—strengthening our economy and reinforcing Utah’s role
in national security.”
“For the United States to remain competitive, it’s important to bolster domestic supply chains of critical
minerals, as well as onshoring minerals from around the globe to be processed and utilized here,” said
Rep. Kat Cammack (R-FL). “I’m grateful to Chemours and their partners for working together to continue
developing the most advanced critical mineral supply in the U.S.”
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About Energy Fuels
Energy Fuels is a leading US -based critical minerals company, focused on uranium, rare earth elements ,
heavy mineral sands, vanadium and medical isotopes. Energy Fuels, which owns and operates several
conventional and in-situ recovery uranium projects in the western United States, has been the leading U.S.
producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that
process it further for the production of carbon-free nuclear energy. Energy Fuels also owns the White Mesa
Mill in Utah, which is the only fully licensed and operating conventional uranium processi ng facility
in the United States. At the Mill, Energy Fuels also produces advanced rare earth element products,
vanadium oxide (when market conditions warrant), and is evaluating the potential recovery of certain
medical isotopes from existing uranium process streams needed for emerging Targeted Alpha Therapy
cancer treatments. Energy Fuels is also developing three (3) additional heavy mineral sands projects: the
Toliara Project in Madagascar; the Bahia Project in Brazil; and the Donald Project in Australia in which
Energy Fuels has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited.
Energy Fuels is based in Lakewood, Colorado, near Denver, with its heavy mineral sands operations
managed from Perth, Australia. The primary trading market for Energy Fuels' common shares is the NYSE
American under the trading symbol "UUUU," and its common shares are also listed on the Toronto Stock
Exchange under the trading symbol "EFR." For more informa tion on all Energy Fuels does , please
visit http://www.energyfuels.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain "Forward Looking Information" and "Forward Looking Statements"
within the meaning of applicable United States and Canadian securities legislation, which may include, but
are not limited to, statements with respect to: any expectation that the strategic alliance will be
successfully formed and will be successful in expanding the companies’ existing relationship to enhance
U.S. domestic rare earth and critical mineral supply chains to meet increasing demand ; any expectation
that the alliance will capitalize on the complementary geographic and operational synergies of both
organizations; any expectation that Energy Fuels’ and Chemours’ unique, complementary capabilities can
be deployed to solve many of America’ critical mineral supply chain challenges in rare earth elements,
titanium and zirconium; any expectation that demand for both rare earth elements and critical minerals
will increase in the future; and any expectations as to future production. Generally, these forward-looking
statements can be identified by the use of forward -looking terminology such as "plans", "expects," "does
not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends,"
"anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that
certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be
achieved" or "have the potential to." All statements, other than statements of historical fact herein are
considered to be forward -looking statements. Forw ard-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results, performance or achievements to
be materially different from any future results, performance or achievements express or implied by th e
forward-looking statements. Factors that could cause actual results to differ materially from those
anticipated in these forward-looking statements include risks associated with: commodity prices and price
fluctuations; engineering, construction, process ing and mining difficulties, upsets and delays; permitting
and licensing requirements and delays; changes to regulatory requirements; legal challenges; competition
from other producers; government and political actions or inactions ; market factors, including future
demand for rare earth elements, titanium and zirconium; and the other factors described under the caption
"Risk Factors" in the Company's most recently filed Annual Report on Form 10 -K, which is available for
review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company's
website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date
of this news release, and Energy Fuels disclaim s, other than as required by law, any obligation to update
any forward -looking statements whether as a result of new information, results, future events,
circumstances, or if management's estimates or opinions should change, or otherwise. There can be no
assurance that forward-looking statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not
to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the
information in this communication, except as otherwise required by law.
For further information: Investor & Press Inquiries:
Energy Fuels Inc., Kim Ronkin Casey, Investor Relations Manager, 303 -389-4165 or Toll free: (888) 864 -
2125, [email protected]