Energy Fuels Inc. announced on September 9, 2025, that high-purity neodymium-praseodymium (NdPr) oxide produced at its White Mesa Mill in Utah has been successfully manufactured into commercial-scale rare earth permanent magnets (REPMs). This achievement was accomplished by South Korea's largest manufacturer of drive unit motor cores, a partner under a previously announced MOU.
The NdPr oxide passed all quality assurance and quality control benchmarks for use in EV drive unit motors, including its successful transformation into NdPr metal, neodymium-iron-boron (NdFeB) alloy sintered blocks (45H grade), and high-performance, high-temperature REPMs. This marks a decisive breakthrough in establishing a "mine-to-magnet" supply chain independent of China.
Drive units powered by Energy Fuels' NdPr oxide are expected to be installed in new electric and hybrid electric vehicles and become available in the marketplace within the next few months. The 1.2 metric tonnes of NdPr oxide supplied earlier this year were processed into approximately 3.0 metric tonnes of REPMs, sufficient to power about 1,500 new electric and hybrid electric vehicles. The parties now intend to engage in negotiations for a potential longer-term supply arrangement.
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