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

ReutersAug 26, 2025 11:45 AM
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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

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