- Energy Fuels (TSX:EFR) and The Chemours Company (NYSE:CC) have expanded their relationship to reinforce the U.S. critical minerals and rare earth elements supply chains
- Energy Fuels stock has given back 24.45 per cent year-over-year but remains up by 326.21 per cent since 2020, last trading at C$6.18 per share
- Chemous stock has given back 47.48 per cent year-over-year but remains up by 59.91 per cent since 2020, last trading at US$14.60 per share
Energy Fuels (TSX:EFR) and The Chemours Company (NYSE:CC) have expanded their relationship to reinforce the U.S. critical minerals and rare earth elements supply chains.
The companies will leverage geographic and operational synergies to capitalize on increasing demand, while strengthening their moats in the face of mounting pressure from United States (U.S.) president Donald Trump’s ongoing tariff disputes with Canada, Mexico, China and the European Union.
Chemours mines and separates heavy mineral sands from mines in Florida and Georgia. The company has been net income profitable in four out of the past five years, posting a net loss of US$238 million in 2023 because of “prolonged destocking in certain key end markets,” according to a statement from chief executive officer (CEO) Denise Dignam.
Energy Fuels, for its part, is a critical minerals producer specializing in uranium, rare earth elements, heavy mineral sands, vanadium and medical isotopes. The company owns and operates conventional and in-situ recovery uranium projects in the western U.S. and has been a top U.S. producer of uranium concentrate for several years. It also owns the White Mesa mill in Utah, the only fully licensed and operating conventional uranium processing facility in the U.S. The mill also produces rare earth element products and vanadium oxide, and may expand into certain medical isotopes derived from uranium for Targeted Alpha Therapy cancer treatments.
Energy Fuels expects to develop heavy mineral sands projects in Madagascar, Brazil and Australia over the coming years, generating globally relevant yields of rare earth elements, titanium ilmenite and zircon.
Leadership insights
“Energy Fuels and Chemours each have unique, complementary capabilities which can be deployed to solve many of America’s critical mineral supply chain challenges in rare earth elements, titanium and zirconium,” Mark Chalmers, president and CEO of Energy Fuels, said in a statement. “Energy Fuels and Chemours have collaborated successfully over the past four years, and we look forward to expanding our relationship in this key area.”
“Chemours is proud to play a role in strengthening U.S. critical and rare earth mineral supply. This is a transformative time in our industry, and we are fortunate to have found a likeminded U.S. partner in Energy Fuels for this important work,” commented Damián Gumpel, president of Chemours Titanium Technologies.
“Today’s announcement is a prime example of the mining industry’s desire to help drive the reshoring of our mineral supply chains and ramp up domestic production to meet the massive mineral demands of modern society. Secure supply chains begin at home—where we do things in accordance with the world’s highest environmental, labor and safety standards,” commented Rich Nolan, president and CEO of the National Mining Association.
“The United States cannot rely on our adversaries for the natural resources essential to our economy and national security. We should be leading the way in producing critical minerals—after all, we do it better and cleaner than anywhere else,” added Senator John Curtis (R-UT). “I applaud Energy Fuels and Chemours on their strategic alliance to strengthen America’s domestic critical mineral supply chain. This partnership will directly support the White Mesa Mill in Utah—strengthening our economy and reinforcing Utah’s role in national security.”
Join the discussion: Find out what everybody’s saying about these critical minerals stocks on the Energy Fuels Inc. and The Chemours Company Bullboards and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image: Energy Fuels)
