Magnetics Business & Technology - May/June 2021 - 28

INDUSTRY NEWS

Neo Performance Materials and Energy Fuels Launch Joint Initiative for U.S.-European Rare
Earth Production
monazite ore produced in the state of Georgia, and elsewhere in the
southeast U.S. Upon completion of the current commercial-scale
pilot program at the White Mesa Mill, Neo's Silmet facility expects
to purchase and process a minimum of 840 metric tons of total rare
earth oxides (TREO) annually from Energy Fuels, which is in addition to Silmet's current production. This would represent approximately 80% of Energy Fuels production from current Chemours
supplies.

Neo Performance Materials and Energy Fuels Inc. are joining forces
in a major new rare earth production initiative spanning European
and North American critical material supply chains. The initiative
will produce value-added rare earth products from natural monazite
sands, a byproduct of heavy mineral sands mined in the southeastern United States. Energy Fuels will process the monazite sands
into a mixed rare earth carbonate (RE Carbonate) in Utah for use as
feed material for Neo's value-added separated rare earth production plant in Europe. Energy Fuels is also continuing to evaluate
developing additional value-added U.S rare earth production capabilities in Utah in the future.
Under an agreement in principle signed March 1 by the companies'
respective affiliates, subject to completion of definitive agreements,
Colorado-based Energy Fuels will process natural monazite sands
into an RE Carbonate beginning in March or April 2021 and ship a
portion of that production to Neo's rare earth separations facility in
Sillamae, Estonia (Silmet). Neo will then process the RE Carbonate
into separated rare earth materials for use in rare earth permanent
magnets and other rare-earth-based advanced materials. Because
of increasing demand for value-added rare earth materials in
European manufacturing, Toronto-based Neo seeks to expand and
diversify its current supplies of rare earth feedstock at Silmet, which
is the only operational rare earth separations facility in Europe. Silmet has been separating rare earths into commercial value-added
products for more than 50 years.
In addition to supplying RE Carbonate to Neo, Energy Fuels is also
evaluating the potential to develop U.S. separation capabilities at
its White Mesa Mill, or nearby, as it works to increase its monazite
sand ore supplies, thereby fully integrating a U.S. rare earth supply
chain in the coming years, in addition to supplying RE Carbonate to
European markets.
Typical monazite ore has a higher value than other rare earth bearing ores, as it contains 50% - 60%+ total rare earth content, plus
0.20% - 0.30% recoverable natural uranium, which is the typical
grade of uranium found in uranium mines that have historically
fed the White Mesa Mill. This means that, in addition to extracting
the high concentrations of rare earths from the monazite ore, the
White Mesa Mill will also extract the naturally occurring uranium in
this ore, which Energy Fuels will sell to power clean, carbon-free
nuclear energy.
Energy Fuels will produce its RE Carbonate from natural monazite sands supplied by U.S.-based Chemours Company under a
sales agreement between Energy Fuels and Chemours that was
announced on December 14, 2020. Chemours will supply Energy
Fuels with a minimum quantity of 2,500 tons per year of natural

28

Magnetics Business & Technology * May/June 2021

Significant quantities of natural monazite ore are produced around
the world as a byproduct of zircon and titanium production from
heavy mineral sand operations, including large resources in the
U.S., Australia, India, South Africa and other nations. Energy Fuels
is seeking to secure additional quantities of monazite ores that it
can use to further this program and has a goal of processing 15,000
tons or more per year in the future. For perspective, 15,000 tons
of monazite per annum would represent approximately 2% of the
White Mesa Mill's existing throughput capacity and less than 1% of
its existing tailings capacity but contain rare earths equal to roughly
50% of total current U.S. demand.

Neo and Energy Fuels have been working in a technical collaboration since April 2020 to establish a monazite processing and
RE Carbonate production capacity at Energy Fuels' White Mesa
Mill plant. Energy Fuels successfully produced RE Carbonate at
the White Mesa Mill in October 2020 from monazite sands. Neo's
Silmet facility in Estonia has successfully processed trial quantities
of Energy Fuels' RE Carbonate. When ramped up to commercial
scale, this new rare earth supply chain is expected to constitute the
first time in over twenty years that monazite ore from the U.S. will
be used as a feedstock to manufacture separated rare earth materials outside of China.
" Producing value-added rare earth materials
from monazite resources is a massive step
forward for our industry and for consumers of
rare earths, " said Constantine Karayannopoulos, Neo's Chief Executive Officer. " Monazite
is an excellent and rich source of rare earths,
particularly the magnetic rare earths that are
highly sought for new electrification applications.
Yet, monazites derived from heavy mineral
sands have historically not been favored due to
the naturally occurring radioactive elements they
normally contain. Energy Fuels provides the

Constantine
Karayannopoulos,
CEO of Neo

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Magnetics Business & Technology - May/June 2021

Table of Contents for the Digital Edition of Magnetics Business & Technology - May/June 2021

Magnetics Business & Technology - May/June 2021
Editor’s Choice/ Features
Major Automakers Transform Their Design & Manufacturing Operations for EV Surge – Part 1 of 2
Top-Tier Automotive Suppliers Transform to Become Fully Integrated e-Powertrain Manufacturers, Part 2 of 2
GE Seeks to Power Canadian Icebreaker Fleet with SEAJET Electric Propulsion Pods
Research & Development
Product News
Industry News
Annual Industry Resource Guide
Events Calendar/ Advertising Index
Perseverance Lands on Mars with maxon Precision Motors Aboard
Visions
Magnetics Business & Technology - May/June 2021 - Cover1
Magnetics Business & Technology - May/June 2021 - Cover2
Magnetics Business & Technology - May/June 2021 - 3
Magnetics Business & Technology - May/June 2021 - Editor’s Choice/ Features
Magnetics Business & Technology - May/June 2021 - 5
Magnetics Business & Technology - May/June 2021 - Major Automakers Transform Their Design & Manufacturing Operations for EV Surge – Part 1 of 2
Magnetics Business & Technology - May/June 2021 - 7
Magnetics Business & Technology - May/June 2021 - 8
Magnetics Business & Technology - May/June 2021 - 9
Magnetics Business & Technology - May/June 2021 - Top-Tier Automotive Suppliers Transform to Become Fully Integrated e-Powertrain Manufacturers, Part 2 of 2
Magnetics Business & Technology - May/June 2021 - 11
Magnetics Business & Technology - May/June 2021 - 12
Magnetics Business & Technology - May/June 2021 - 13
Magnetics Business & Technology - May/June 2021 - 14
Magnetics Business & Technology - May/June 2021 - 15
Magnetics Business & Technology - May/June 2021 - GE Seeks to Power Canadian Icebreaker Fleet with SEAJET Electric Propulsion Pods
Magnetics Business & Technology - May/June 2021 - 17
Magnetics Business & Technology - May/June 2021 - 18
Magnetics Business & Technology - May/June 2021 - 19
Magnetics Business & Technology - May/June 2021 - Research & Development
Magnetics Business & Technology - May/June 2021 - 21
Magnetics Business & Technology - May/June 2021 - Product News
Magnetics Business & Technology - May/June 2021 - 23
Magnetics Business & Technology - May/June 2021 - 24
Magnetics Business & Technology - May/June 2021 - 25
Magnetics Business & Technology - May/June 2021 - 26
Magnetics Business & Technology - May/June 2021 - 27
Magnetics Business & Technology - May/June 2021 - Industry News
Magnetics Business & Technology - May/June 2021 - 29
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Magnetics Business & Technology - May/June 2021 - 32
Magnetics Business & Technology - May/June 2021 - 33
Magnetics Business & Technology - May/June 2021 - Annual Industry Resource Guide
Magnetics Business & Technology - May/June 2021 - 35
Magnetics Business & Technology - May/June 2021 - 36
Magnetics Business & Technology - May/June 2021 - 37
Magnetics Business & Technology - May/June 2021 - 38
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Magnetics Business & Technology - May/June 2021 - 41
Magnetics Business & Technology - May/June 2021 - 42
Magnetics Business & Technology - May/June 2021 - 43
Magnetics Business & Technology - May/June 2021 - Events Calendar/ Advertising Index
Magnetics Business & Technology - May/June 2021 - 45
Magnetics Business & Technology - May/June 2021 - Visions
Magnetics Business & Technology - May/June 2021 - Cover3
Magnetics Business & Technology - May/June 2021 - Cover4
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