Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) and The Chemours Company (NYSE: CC) announced they are forming a strategic alliance to expand the companies’ existing relationship to enhance U.S. domestic rare earth and critical mineral supply chains to meet increasing demand.

The alliance will capitalize on the complementary geographic and operational synergies of both organizations. Energy Fuels, a leading U.S. producer of rare earth elements, is currently developing new heavy mineral sands projects in Madagascar, Brazil, and Australia, expected to produce world-scale quantities of rare earth, titanium ilmenite and zircon minerals in the coming years. Chemours mines and separates heavy mineral sands from its mines in Florida and Georgia.

“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. Energy Fuels and Chemours have collaborated successfully over the past four years, and we look forward to expanding our relationship in this key area,” said Mark Chalmers, President and CEO of Energy Fuels.

“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,” said Damián Gumpel, President of Chemours Titanium Technologies.

Rich Nolan, President and CEO of the National Mining Association applauded the news saying, “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.”

Chairman Mike Lee (R-UT) shared, “America’s economic and national security depends on a strong, domestic supply chain for critical minerals. This agreement is a major step toward securing that supply, ensuring that rare earth elements, titanium, and zirconium are sourced and processed here at home. By combining their strengths, these two companies are reinforcing America’s industrial base and reducing our reliance on foreign adversaries for materials essential to energy, defense, and advanced manufacturing.”

“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,” said 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.”

“For the United States to remain competitive, it’s important to bolster domestic supply chains of critical minerals, as well as onshoring minerals from around the globe to be processed and utilized here,” said Rep. Kat Cammack (R-FL). “I’m grateful to Chemours and their partners for working together to continue developing the most advanced critical mineral supply in the U.S.”

About Energy Fuels

Energy Fuels is a leading US-based critical minerals company, focused on uranium, rare earth elements, heavy mineral sands, vanadium and medical isotopes. Energy Fuels, which owns and operates several conventional and in-situ recovery uranium projects in the western United States, has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy. Energy Fuels also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the Mill, Energy Fuels also produces advanced rare earth element products, vanadium oxide (when market conditions warrant), and is evaluating the potential recovery of certain medical isotopes from existing uranium process streams needed for emerging Targeted Alpha Therapy cancer treatments. Energy Fuels is also developing three (3) additional heavy mineral sands projects: the Toliara Project in Madagascar; the Bahia Project in Brazil; and the Donald Project in Australia in which Energy Fuels has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. Energy Fuels is based in Lakewood, Colorado, near Denver, with its heavy mineral sands operations managed from Perth, Australia.