financetom
Market
financetom
/
Market
/
Energy Fuels Up in U.S. Pre-market on Agreement With POSCO to Create Rare Earths Supply Chain
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Energy Fuels Up in U.S. Pre-market on Agreement With POSCO to Create Rare Earths Supply Chain
Mar 17, 2025 5:18 AM

08:05 AM EDT, 03/17/2025 (MT Newswires) -- Energy Fuels ( UUUU ) traded 1.2% higher at last look in NYSE American pre-market trading as the company signed a memorandum of understanding with South Korea-based POSCO International to establish a non-China rare earths supply chain for electric vehicles and hybrid EV drivetrains for U.S., E.U., Japanese and South Korean automakers.

Under the proposed terms, Energy Fuels ( UUUU ) will supply neodymium-praseodymium (NdPr) oxide from its White Mesa mill in Utah. The material will be processed into metal, alloy and finished high-performance permanent rare earth elements (REE) magnets for use in POSCO's traction motor core.

Energy Fuels ( UUUU ) will also receive final magnet and sintered block samples to demonstrate successful production of high-performance magnets from its NdPr oxide.

Upon successful validation of the initial sample supply of NdPr oxide, Energy Fuels ( UUUU ) and POSCO will discuss the potential delivery of additional mass production supply volumes of NdPr oxide later this year for permanent REE magnet production, which will be enough to power over 30,000 EVs.

"Today's agreement between Energy Fuels ( UUUU ) and POSCO International brings the U.S. and our allies in Europe, South Korea and Japan one step closer to seeing vehicles powered by American-made rare earth oxides with no ties to China, unlocking a scalable, high-quality allied REE magnet processing and manufacturing route that does not currently exist in the U.S." Energy Fuels' ( UUUU ) President and CEO Mark Chalmers said. "Energy Fuels ( UUUU ) is moving aggressively to address a critical gap in the domestic market that is both competitive and shielded from geopolitical factors."

Both companies will also discuss the potential for Energy Fuels ( UUUU ) to supply U.S.-produced REE oxides to POSCO on a long-term basis, while leaving significant volumes available for other customers, including commercial-scale REE metallization, alloying, and magnet production initiatives, currently being constructed in the U.S.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Equity Indexes Retreat While Gold Surges in Midday Trading
US Equity Indexes Retreat While Gold Surges in Midday Trading
Mar 3, 2025
12:22 PM EST, 03/03/2025 (MT Newswires) -- US equity indexes fell, with technology leading the decliners and gold futures surging after midday on Monday. The Nasdaq Composite fell 0.3% to 18,793.9, with the S&P 500 down 0.1% to 5,954.5 and the Dow Jones Industrial Average 0.1% lower at 43,802.8 after midday on Monday. Technology and energy led the decliners, while...
This Analyst With 84% Accuracy Rate Sees Around 64% Upside In Nvidia - Here Are 5 Stock Picks For February From Wall Street's Most Accurate Analysts
This Analyst With 84% Accuracy Rate Sees Around 64% Upside In Nvidia - Here Are 5 Stock Picks For February From Wall Street's Most Accurate Analysts
Mar 3, 2025
U.S. stocks settled higher on Friday, with the Dow Jones index jumping more than 600 points during the session. Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary...
Top Midday Stories: TSMC, Trump Expected to Announce $100 Billion Investment; Ford Sales Fall 8.9% Year Over Year in February
Top Midday Stories: TSMC, Trump Expected to Announce $100 Billion Investment; Ford Sales Fall 8.9% Year Over Year in February
Mar 3, 2025
11:42 AM EST, 03/03/2025 (MT Newswires) -- All three major US stock indexes were down in late-morning trading Monday, extending February's losses as the White House's tariff policies continue to rattle markets. In company news, Taiwan Semiconductor Manufacturing ( TSM ) plans to invest $100 billion in US-based chip manufacturing plants over the next four years under a plan expected...
US STOCKS-Wall St declines after February manufacturing data
US STOCKS-Wall St declines after February manufacturing data
Mar 3, 2025
(For a Reuters live blog on U.S., UK and European stock markets, click/ or type LIVE/ in a news window.) * Intel ( INTC ) up after report of Nvidia ( NVDA ), Broadcom ( AVGO ) collaboration * Tesla up after Morgan Stanley reinstates stock as 'top pick' * Crypto stocks surge after Trump hints at new bitcoin reserve...
Copyright 2023-2025 - www.financetom.com All Rights Reserved