Energy Fuels gains on production capability for rare earth oxides

Shares of mining company Energy Fuels UUUU.A rise 10.6% to $4.90 premarket

Company develops technical ability to commercially produce samarium, gadolinium, dysprosium, terbium, lutetium, yttrium and other oxides, subject to newly enacted Chinese export controls

UUUU said its White Mesa Mill in Utah has the commercial capacity to process monazite ore concentrates into separated neodymium-praseodymium (NdPr) oxide

Company expects to increase its capacity to be able to process 60,000 tonnes of monazite per year in the coming years

"Energy Fuels is uniquely positioned to quickly help fill the gaps President Trump identifies in his Critical Mineral Executive Order ... we now have the data, knowledge .. .to produce 'light', 'mid' and 'heavy' rare earth oxides at scale," said CEO Mark Chalmers

Up till last close, stock down 22% YTD