U.S.-based companies Energy Fuels and Vulcan Elements have signed a memorandum of understanding (MoU) to collaborate on creating a resilient domestic supply chain for rare earth magnets independent of China.
“Energy Fuels and Vulcan Elements are innovative companies with similar visions of creating a secure Western rare earth magnet supply chain. We have both proven our capacity to deliver rare earth products that meet commercial specifications at scale from American-based facilities,” said Mark S. Chalmers, CEO of Energy Fuels.
“We believe Vulcan Elements is emerging as a top-tier manufacturer, and we see this MoU as the first step towards building a long-term relationship that serves the interests of both companies and the U.S.”
Under the collaboration, Energy Fuels has agreed to supply initial quantities of high-purity “light” and “heavy” separated rare earth oxides from domestic mines to Vulcan in the fourth quarter of 2025. Upon receipt, Vulcan will validate Energy Fuels’ neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides for production of rare earth magnet applications. After validation, Vulcan and Energy Fuels intend to negotiate additional long-term supply agreements.
In 2024, Energy Fuels produced high-purity NdPr oxide at commercial scale at its White Mesa Mill near Blanding, Utah. This “light” rare earth oxide has been validated by downstream rare earth metal, alloy, and magnet manufacturers. The company is currently piloting the production of “heavy” rare earth oxides that meet commercial specifications at the mill, with kilogram-scale samples of Dy oxide expected to be available in August and Terbium oxide by year’s end.
Vulcan manufactures high-performance rare earth magnets for defense and commercial applications and is currently operating a commercial manufacturing facility in Durham, N.C.
Source: Energy Fuels