Energy Fuels' Utah Plant's Terbium Oxide Certified by Japanese Rare Earth Permanent Magnet Manufacturer

On August 19, U.S. critical materials producer Energy Fuels Inc. announced that the terbium oxide produced at its White Mesa plant in Utah has passed all certifications from a Japanese rare earth permanent magnet manufacturer, enabling its use in commercial rare earth permanent magnet production without further qualification or verification.

According to the company, this Japanese manufacturer is one of the world's largest rare earth permanent magnet producers outside China. Energy Fuels stated that the certification of its terbium oxide demonstrates that its heavy rare earth product quality and rare earth processing capabilities have been recognized by downstream users. The company's previously produced neodymium-praseodymium oxide and dysprosium oxide have also obtained qualification certifications for use in rare earth permanent magnet manufacturing.

Terbium is one of the important heavy rare earth elements, primarily used to enhance the heat resistance and performance of high-strength neodymium-iron-boron permanent magnets. Neodymium-iron-boron permanent magnets are widely used in automotive, advanced electronics, robotics, aerospace, and other sectors. According to Benchmark Mineral Intelligence's European CIF price data, the current market price of terbium oxide is approximately $5.5 million per metric ton.

Energy Fuels stated that upon completion of its acquisitions of Australian Strategic Materials and Vacuum Melting, the company expects to form a vertically integrated supply chain from mine to rare earth permanent magnets. The neodymium-praseodymium, terbium, and dysprosium oxides produced at its White Mesa plant will become important components of the related supply chain.

Energy Fuels is a critical materials company headquartered in Lakewood, Colorado, USA, involved in uranium, rare earth elements, heavy mineral sands, vanadium, and medical isotope development. The company is the leading U.S. producer of natural uranium concentrate, with its uranium products used for nuclear power generation; its White Mesa plant in Utah is a fully licensed conventional uranium mill in the United States, which also produces rare earth products and is evaluating medical isotope recovery for applications in emerging cancer therapies.