Magnetics Business & Technology - November/December 2021 - 25

INDUSTRY NEWS
ital and operating costs for a full rare earth separations capability
at the mill, which would be the next important step towards fully
integrating a U.S. rare earth supply chain in the coming years, in
addition to continuing to supply carbonate to European markets
over the long-term.
" The launch of this new supply chain is a real gamechanger for
Neo and our growing customer base in Europe, " said Constantine
Karayannopoulos, Neo's CEO. " This innovative U.S.-toEurope
supply chain will supplement Neo's existing rare earth
supply from our long-time Russian supplier. It will enable Neo
to expand value-added rare earth production in Estonia to meet
growing demand in Europe for these materials. It begins to
unlock the extraordinary economic and environmental potential
presented by utilizing low-cost rare earth feedstock from monazite
ore that is a byproduct of existing mining. And, it helps Neo
ramp up rare earth production in Estonia just as Europe accelerates
vehicle electrification and other initiatives aimed at mitigating
climate impacts. "
" Today, Energy Fuels and Neo took significant steps toward
restoring critical U.S. and European rare earth supply chains, "
stated Mark Chalmers, president and CEO of Energy Fuels.
" Energy Fuels has methodically ramped up our mixed rare earth
carbonate production since we first started feeding Georgia
monazite ore into our Utah mill in March. Successfully producing
this rare earth product, and physically delivering the first containers
of rare earth carbonate to Neo, is an important achievement,
not only for Energy Fuels and Neo, but also for U.S. government
efforts to restore critical rare earth supply chains. This is also
very good news for end-users of rare earth products in the U.S.,
Europe, Japan and elsewhere who seek alternative sources of
rare earths produced in the U.S. and Europe to the highest global
standards of environmental protection and sustainability. "
Significant quantities of Monazite 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, Brazil, South Africa, and other nations. Energy Fuels is
in discussions with several parties to secure additional quantities
of Monazite that it can use to expand this quickly emerging rare
earth initiative. Energy Fuels has a goal of processing 15,000
tons of monazite or more per year in the future. For perspective,
15,000 tons of monazite per annum would contain rare
earths equal to roughly 50% of total current U.S. demand, while
only utilizing approximately 2% of the White Mesa Mill's existing
throughput capacity and less than 1% of its existing tailings
capacity.
Monazite from the southeast U.S. typically contains roughly 55%
total rare earth oxides (TREO) of which the magnetic elements
neodymium and praseodymium (NdPr) comprise approximately
22% of the TREO. NdPr are among the most valuable of the rare
earth elements, as they are the key ingredient in the manufacture
of high-strength permanent magnets that are essential to
the lightweight and powerful motors required in electric vehicles,
permanent magnet wind turbines used for renewable energy
generation, and a variety of other modern technologies, including,
mobile devices and defense applications. U.S. Monazite also
contains approximately 14.4% " heavy " rare earths on a TREO
basis, including roughly 1.5% dysprosium and terbium which
have additional important magnet and national defense applications.
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Magnetics Business & Technology - November/December 2021

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