Energy Fuels receives another US$1.75M from US Department of Energy for rare earth feasibility study

Energy Fuels Inc (NYSE:UUUU) (TSE:EFR) (FRA:VO51) and a team from Penn State University were awarded another US$1.75 million by the US Department of Energy for its rare earth feasibility study.  The Lakewood, Colorado-based company said that the US Department of Energy’s Office of Fossil Energy and National Energy Technology had exercised its option to award the team the money for the study, which examines the production of rare earth products from natural coal-based resources.  The award comes after the Department of Energy gave Energy Fuels a $150,000 contract last year to complete a conceptual design for the initiative. Energy Fuels was given a total award of $1.9 million.  READ: Energy Fuels signs non-binding MOU to secure monazite sand supply from Hyperion's Titan Project "We are pleased to continue our collaboration with the US Department of Energy, as we work together to restore critical US rare earth supply chains available for domestic manufacturing," Mark Chalmers, CEO of Energy Fuels said in a statement. "As we continue to ramp-up production of an intermediate rare earth product at the White Mesa Mill in Utah, we are moving forward with designing and developing the infrastructure needed to responsibly produce separated rare earth oxides and other products needed by the electric vehicle, renewable energy, defense and other domestic industries.” Chalmers added that the firm believes it can design its infrastructure to process feeds produced in the DOE program as well as the Monazite it is currently processing, for the recovery of uranium and rare earth elements (REE) products. “We believe these kinds of collaborative public-private partnerships will be a key to restoring US global leadership in the clean energy sector and re-establishing critical defense-related supply chains,” Chalmers told investors. Energy Fuels is looking at the potential to develop commercial REE separation, metals, alloys, and other downstream REE capabilities at the White Mesa Mill, or nearby, with the goal of fully integrating a commercial US REE supply chain. Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas