US-based Energy Fuels has signed a nonbinding memorandum of understanding (MoU) with Australia-listed Hyperion Metals for the supply of natural monazite sand from Hyperion’s Titan project, in Tennessee.
Energy Fuels plans to produce mixed rare earth element (REE) products from processing the monazite at its White Mesa Mill, in Utah.
The parties have also agreed to evaluate a potential teaming, joint venture, equity investment or other arrangement under which Hyperion would collaborate with Energy Fuels, and potentially other parties, in advancing Energy Fuels' current initiative to establish a fully integrated, ‘mine to market’ US rare earth supply chain for the electric vehicle and renewable energy sectors, as well as other specialty uses.
The collaboration between Energy Fuels and Hyperion will initially focus on the potential commercial supply of monazite from the Titan project to the White Mesa mill.
Hyperion's Titan project covers a large area of heavy mineral sands properties in Tennessee prospective for titanium, zircon, monazite and other minerals such as high-grade silica sand and other refractory minerals. Hyperion is nearing completion of a three-phase drilling and bulk sampling test work programme at Titan. Results to date have successfully confirmed the high grade and significant thickness of mineralisation over about a 3.6 km strike length.
Energy Fuels and Neo Performance Materials recently announced the joint launch of a US-European REE supply chain involving Energy Fuels, Neo and Chemours. Under this emerging initiative, Energy Fuels is purchasing 2 500 t/y of monazite from the Chemours Company's Georgia heavy mineral sand operations. Energy Fuels is processing this monazite at White Mesa into a clean, mixed REE carbonate, as well as recovering the contained uranium.
Energy Fuels is selling this intermediate REE product to Neo's REE separations facility in Sillamae, Estonia for the production of commercial value-added REE products, supplying US and European markets.