Energy Fuels gains on pact to develop rare-earth magnets with Vulcan Elements

Energy Fuels

26/08/2025 12:45

** Shares of miner Energy Fuels UUUU.A up 1.8% at $11.13 premarket

** Company signs memorandum of understanding (MOU) with Vulcan Elements, manufacturer of rare earth permanent magnets, to create a domestic supply chain for rare earth magnets independent of China

** UUUU will supply initial quantities of high-purity "light" and "heavy" separated rare earth oxides to Vulcan in Q4 2025

     ** Company says Vulcan will validate UUUU's neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides for production of rare earth magnet applications

** After validation, companies will negotiate additional long-term supply agreements for both NdPr and Dy oxides

** Company adds that the oxides will be sourced exclusively from U.S. mines

** As of last close, shares are up 112.5% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((katha.kalia@thomsonreuters.com;))