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