Energy Fuels Inc., a leading U.S. producer of rare earth element oxides, has signed a Memorandum of Understanding (MOU) with Vulcan Elements to enhance the U.S. rare earth magnet supply chain. Under this new agreement, Energy Fuels will supply Vulcan Elements with high-purity "light" and "heavy" rare earth oxides, sourced from U.S. mines, for the production of rare earth permanent magnets within the United States. This collaboration aims to create a resilient and independent domestic supply chain for rare earth magnets, essential for various commercial and defense applications. Energy Fuels' White Mesa Mill in Utah, the only U.S. facility capable of processing monazite mineral concentrates into separated rare earth oxides, will provide the required materials, ensuring a secure and sustainable supply chain for the future.