In this InvestorIntel interview with host Jack Lifton, Energy Fuels Inc.’s (NYSE American: UUUU | TSX: EFR) President and CEO Mark Chalmers talks about returning from Brazil with a signed agreement for the acquisition of the major rare earths Bahia Project.
In the interview, Mark discusses the 60 square mile acquisition of the very high quality heavy mineral sand deposit by Energy Fuels north of Rio de Janeiro. “This is a big step for our company,” Mark explained, “as it could supply ultimately because of its size between 3,000 to 10,000 tons a year of monazite sand.” This could translate into between “1500 to 5 000 tons of REO per year,” he continued, making it “important as a base load for the White Mesa mill.”
Mark also talks about how the Bahia Project, expected to close in 90 days subject to due diligence, is a step towards Energy Fuels’ vertical integration plan for producing rare earth products, which is already shipping high purity mixed rare earth carbonate from its White Mesa mill in Utah to customers. He also discussed a recent announcement that Energy Fuels has signed three material contracts with two major U.S. nuclear utilities to supply uranium products.
