US-Based Energy Fuels and South Korea-Based POSCO International Forge Collaboration to Create Non-China Rare Earth Magnet Supply Chain
Energy Fuels Inc. (NYSE: UUUU) has signed a strategic MOU with South Korea's POSCO International to establish one of the world's first non-China rare earth magnet supply chains for EV and hybrid EV drivetrains. Initial qualification samples of Energy Fuels' neodymium-praseodymium (NdPr) oxide from its White Mesa Mill have met POSCO's specifications.
Under the agreement, Energy Fuels will provide larger-scale NdPr oxide samples to POSCO for validation in traction motor cores. Upon successful validation, the companies will discuss potential mass production supply volumes sufficient to power 30,000+ EVs later this year.
Energy Fuels has secured monazite concentrate supply through four key sources:
- Toliara HMS Project (Madagascar)
- Donald HMS Project (Australia)
- Bahia HMS Project (Brazil)
- Ongoing relationship with Chemours (USA)
Energy Fuels Inc. (NYSE: UUUU) ha firmato un MOU strategico con POSCO International della Corea del Sud per stabilire una delle prime catene di approvvigionamento di magneti rari non cinesi al mondo per i veicoli elettrici e i veicoli ibridi. I campioni di qualificazione iniziali dell'ossido di neodimio-praseodimio (NdPr) provenienti dal White Mesa Mill di Energy Fuels hanno soddisfatto le specifiche di POSCO.
Secondo l'accordo, Energy Fuels fornirà campioni di ossido di NdPr su scala più ampia a POSCO per la validazione nei nuclei dei motori di trazione. Dopo una validazione positiva, le aziende discuteranno i potenziali volumi di produzione di massa sufficienti per alimentare oltre 30.000 veicoli elettrici entro la fine dell'anno.
Energy Fuels ha assicurato l'approvvigionamento di concentrato di monazite attraverso quattro fonti chiave:
- Progetto HMS di Toliara (Madagascar)
- Progetto HMS di Donald (Australia)
- Progetto HMS di Bahia (Brasile)
- Relazione in corso con Chemours (USA)
Energy Fuels Inc. (NYSE: UUUU) ha firmado un MOU estratégico con POSCO International de Corea del Sur para establecer una de las primeras cadenas de suministro de imanes de tierras raras no chinas en el mundo para vehículos eléctricos y vehículos eléctricos híbridos. Las muestras de calificación iniciales del óxido de neodimio-praseodimio (NdPr) de Energy Fuels de su White Mesa Mill han cumplido con las especificaciones de POSCO.
Según el acuerdo, Energy Fuels proporcionará muestras de óxido de NdPr a mayor escala a POSCO para la validación en núcleos de motores de tracción. Tras una validación exitosa, las empresas discutirán potenciales volúmenes de producción en masa suficientes para alimentar a más de 30,000 vehículos eléctricos a finales de este año.
Energy Fuels ha asegurado el suministro de concentrado de monazita a través de cuatro fuentes clave:
- Proyecto HMS de Toliara (Madagascar)
- Proyecto HMS de Donald (Australia)
- Proyecto HMS de Bahia (Brasil)
- Relación continua con Chemours (EE. UU.)
Energy Fuels Inc. (NYSE: UUUU)는 한국의 POSCO International과 전기차 및 하이브리드 전기차 구동계를 위한 세계 최초의 비중국 희토류 자석 공급망 중 하나를 구축하기 위한 전략적 MOU를 체결했습니다. Energy Fuels의 White Mesa Mill에서 생산된 네오디뮴-프라세오디뮴(NdPr) 산화물의 초기 자격 샘플이 POSCO의 사양을 충족했습니다.
계약에 따라 Energy Fuels는 구동 모터 코어에서 검증하기 위해 POSCO에 더 큰 규모의 NdPr 산화물 샘플을 제공할 것입니다. 검증이 성공적으로 완료되면, 두 회사는 올해 말 30,000대 이상의 전기차에 전력을 공급할 수 있는 대량 생산 공급량에 대해 논의할 것입니다.
Energy Fuels는 네 가지 주요 공급원을 통해 모나자이트 농축물 공급을 확보했습니다:
- 톨리아라 HMS 프로젝트 (마다가스카르)
- 도널드 HMS 프로젝트 (호주)
- 바히아 HMS 프로젝트 (브라질)
- Chemours와의 지속적인 관계 (미국)
Energy Fuels Inc. (NYSE: UUUU) a signé un MOU stratégique avec POSCO International de Corée du Sud pour établir l'une des premières chaînes d'approvisionnement en aimants de terres rares non chinois au monde pour les véhicules électriques et les véhicules hybrides. Les échantillons de qualification initiaux de l'oxyde de néodyme-praséodyme (NdPr) d'Energy Fuels provenant de son White Mesa Mill ont répondu aux spécifications de POSCO.
Dans le cadre de l'accord, Energy Fuels fournira à POSCO des échantillons d'oxyde de NdPr à plus grande échelle pour validation dans les noyaux de moteurs de traction. Après une validation réussie, les entreprises discuteront des volumes de production de masse potentiels suffisants pour alimenter plus de 30 000 véhicules électriques d'ici la fin de l'année.
Energy Fuels a sécurisé l'approvisionnement en concentré de monazite par le biais de quatre sources clés :
- Projet HMS de Toliara (Madagascar)
- Projet HMS de Donald (Australie)
- Projet HMS de Bahia (Brésil)
- Relation continue avec Chemours (États-Unis)
Energy Fuels Inc. (NYSE: UUUU) hat ein strategisches MOU mit POSCO International aus Südkorea unterzeichnet, um eine der weltweit ersten nicht-chinesischen Lieferketten für seltene Erdenmagnete für Elektrofahrzeuge und Hybrid-Elektrofahrzeuge aufzubauen. Die ersten Qualifikationsmuster des Neodym-Praseodym (NdPr) Oxids von Energy Fuels aus der White Mesa Mill haben die Spezifikationen von POSCO erfüllt.
Im Rahmen der Vereinbarung wird Energy Fuels POSCO größere NdPr-Oxidproben zur Validierung in den Antriebsmotorenkernen zur Verfügung stellen. Nach erfolgreicher Validierung werden die Unternehmen potenzielle Massenproduktionsvolumina besprechen, die ausreichen, um später in diesem Jahr über 30.000 Elektrofahrzeuge zu betreiben.
Energy Fuels hat die Versorgung mit Monazitkonzentrat über vier wichtige Quellen gesichert:
- Toliara HMS Projekt (Madagaskar)
- Donald HMS Projekt (Australien)
- Bahia HMS Projekt (Brasilien)
- Fortlaufende Beziehung zu Chemours (USA)
- Initial NdPr oxide samples have already met POSCO's specifications
- Secured four diversified sources of high-grade monazite feedstock (50-60% TREO)
- Potential to supply material for 30,000+ EVs by year-end
- Strategic partnership with established global leader in EV powertrain components
- MOU is only partially binding, with long-term supply agreements still non-binding
- Mass production supply volumes dependent on successful validation testing
Insights
Energy Fuels has secured a strategically significant MOU with South Korea's POSCO International that could establish one of the first non-Chinese rare earth magnet supply chains - a development with substantial positive implications for UUUU's growth trajectory. The partnership strategically positions Energy Fuels to monetize its rare earth oxide (REO) production by connecting with POSCO's established position as a supplier of traction motor cores to major automotive OEMs.
Initial qualification samples of UUUU's neodymium-praseodymium (NdPr) oxide have already met POSCO's specifications, validating the company's production capabilities at its White Mesa Mill. The follow-on potential is substantial - upon successful validation of larger samples, Energy Fuels could begin commercial-scale deliveries sufficient to power 30,000+ EVs later this year, with discussions for long-term supply arrangements to follow.
This partnership significantly de-risks Energy Fuels' rare earth business segment by potentially securing a major customer with established downstream channels. Energy Fuels has methodically built a secure supply chain for monazite concentrates (the feedstock for REE production) through four strategic moves: acquiring the Toliara HMS Project (Madagascar), earning into the Donald HMS Project (Australia), acquiring the Bahia HMS Project (Brazil), and continuing its relationship with Chemours in the U.S.
While certain elements of the MOU are binding (sample shipping, testing, validation discussions), the long-term supply arrangement remains non-binding until definitive agreements are reached. Nevertheless, this represents a critical milestone in commercializing Energy Fuels' rare earth oxide production and expanding beyond its historical uranium focus into the high-growth EV supply chain.
This Energy Fuels-POSCO partnership represents a significant development in reshaping critical mineral supply chains currently dominated by China. By connecting Energy Fuels' U.S.-based rare earth oxide production directly to POSCO's established position in EV powertrain components, the collaboration creates a geopolitically resilient alternative for automotive manufacturers seeking to diversify supply sources.
The supply chain architecture being constructed here is notable for several reasons. First, Energy Fuels has systematically secured multiple independent sources of high-grade monazite concentrate (50-60% TREO) from four geographically diverse locations across allied nations. This multi-sourcing strategy provides important redundancy that mitigates single-point failure risks.
Second, the vertical integration of processing these concentrates at Energy Fuels' White Mesa Mill in Utah creates a domestic processing capability that doesn't currently exist at commercial scale in the U.S. This addresses a critical infrastructure gap in rare earth supply chains outside China.
Third, by connecting directly with POSCO's established manufacturing capabilities and existing OEM relationships, Energy Fuels can potentially bypass years of qualification processes typically required when building new supply relationships in the automotive sector. POSCO's existing qualifications with U.S., European, Japanese, and Korean automakers provides an accelerated pathway to market.
The binding elements of the MOU establish clear next steps for validation, while the potential for volume production this year indicates an unusually rapid commercialization timeline for this type of supply chain development. If successful, this collaboration creates a template for other critical mineral supply chains seeking alternatives to China-dominated systems.
Collaboration could fast-track the formation of one of the world's first commercial permanent rare earth magnet supply chains independent of
POSCO is a proven producer of traction motor cores, which are key components in EV and hybrid EV drivetrains and a global specialist in EV powertrain components. They are currently a leading supplier to existing automotive customers, and POSCO's drivetrains have been qualified by
"Today's agreement between Energy Fuels and POSCO International brings the
Initial qualification samples of Energy Fuels' neodymium-praseodymium (NdPr) oxide, produced at its White Mesa Mill in
Upon successful validation of the initial sample supply of NdPr Oxide, Energy Fuels and POSCO will discuss the potential delivery of additional mass production supply volumes of NdPr oxide later this year for permanent REE magnet production, which will be enough to power 30,000+ EVs, which could be available to consumers later this year.
In addition, following the completion of validation and other requirements under the MOU, the parties have indicated their intention to discuss the potential for Energy Fuels to supply
Chalmers continued, "Energy Fuels and POSCO are working together to create a traceable, competitively priced, and sustainably produced rare earth supply chain for allied magnet-makers and
Energy Fuels previously announced commercial-scale production of high-purity, on-spec separated NdPr oxides which can be scaled significantly at what the Company expects will be at a low-cost relative to other producers, using high-grade monazite feedstock from mine acquisitions and partnerships the Company has completed in
- Toliara HMS Project (
Madagascar ,100% acquisition of Base Resources, Oct. 2024) - Donald HMS Project (
Australia , right to earn-in to a49% interest in a joint venture with Astron Corporation with Energy Fuels' receiving100% of the monazite from the project, June 2024) - Bahia HMS Project (
Brazil ,100% acquisition, Feb. 2023) - Ongoing relationship with Chemours (HMS mining and processing,
Georgia &Florida, USA )
The MOU is binding as it relates to: Energy Fuels requirement to ship the larger-scale sample supply of NdPr oxide to POSCO for testing; POSCO's requirement to provide samples to Energy Fuels; the parties' commitment to work towards verifying the quality of the NdPr oxide and validate its use; the parties commitment to discuss the potential for Energy Fuels to supply an additional supply of NdPr oxide for mass production to POSCO; and certain administrative matters. The parties' intent to potentially enter into definitive agreements for the Company to supply
ABOUT ENERGY FUELS
Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, HMS, vanadium and medical isotopes. The Company, which owns and operates several conventional and in-situ recovery uranium projects in the western
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SOURCE Energy Fuels Inc.