07:56 AM EDT, 09/09/2025 (MT Newswires) -- Energy Fuels ( UUUU ) , up 3.3% in U.S. pre-market trading, said Tuesday that high-purity neodymium-praseodymium (NdPr) oxide from its White Mesa Mill in Utah has been manufactured into commercial-scale rare earth permanent magnets by POSCO International, South Korea's largest maker of drive unit motor cores.

The magnets passed quality control standards for use in EV drive unit motors sold to major automakers, the company said.

Energy Fuels ( UUUU ) said 1.2 metric tonnes of its NdPr oxide supplied earlier this year were processed into 3 tonnes of magnets, enough to power about 1,500 new electric and hybrid vehicles. The drive units are expected to be installed in the coming months.

The company signed a memorandum of understanding with POSCO last March. The two parties will now begin talks on a potential long-term supply deal.

"We are excited to announce that rare earth oxides mined, processed and produced in America are expected to be powering EVs and hybrids for sale around the world very soon, representing a major achievement in restoring domestic critical mineral supply chains" said chief executive Mark Chalmers.

"Commercial validation of our rare earth oxides at scale is a significant triumph for Energy Fuels ( UUUU ), proving we have the capacity and expertise to produce rare earth materials that meet both commercial and defense requirements, at scale and to appropriate purity and performance specifications."

Chalmers added that Energy Fuels ( UUUU ) plans to build heavy rare earth oxide capacity in 2026 at White Mesa Mill to further develop a non-China supply chain.

Energy Fuels ( UUUU ) is up $0.39, to $12.32 in New York trading. Its shares closed up $0.44, to $16.44 on the Toronto Stock Exchange on Monday.

Energy Fuels ( UUUU ) shares rose 3.3% in U.S. pre-market trading. They were recently up US$0.39 at US$12.32 in New York. The stock closed Monday up $0.44 at CA$16.44 on the Toronto Stock Exchange.