Energy Fuels Inc. (NYSE:UUUU) shares surged after the company announced a memorandum of understanding with Vulcan Elements to build a U.S.-based supply chain for rare-earth magnets.
Under the deal, Energy Fuels will supply high-purity neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides to Vulcan later this year for testing and future magnet production. The oxides will be refined at its White Mesa Mill in Utah using mineral concentrates from Florida and Georgia.
Rare-earth magnets are essential for satellites, defense systems, artificial intelligence infrastructure, robotics, and electric vehicles. By securing domestic sources, the companies aim to reduce U.S. reliance on Chinese supply chains. After validation, they expect to negotiate long-term supply agreements.
Also Read: Rare Earths Are The Energy Transition’s Hidden Bottleneck, Study Shows
Energy Fuels operates the only U.S. facility capable of processing monazite mineral concentrates into separated rare-earth oxides. The company began commercial-scale NdPr production in 2024 and is piloting heavier oxides, including Dy and terbium, to expand output.
Vulcan CEO John Maslin said the agreement will onshore one of the most important supply chains for America’s future economy and security. Energy Fuels CEO Mark S. Chalmers described it as a first step toward developing a secure Western rare-earth magnet industry.
Energy Fuels has rallied more than 146% in 2025, fueled in part by Cathie Wood’s investment push into nuclear power as a cornerstone of the future energy mix. Her ARK Invest thesis has drawn fresh attention to the company’s uranium and rare-earth operations, which position it at the crossroads of clean energy and advanced technology.
Energy Fuels is uniquely placed to supply nuclear fuel for power generation and rare-earth materials vital to AI data centers, defense systems, and electric vehicles. This dual capability has strengthened the stock’s bull case.
Price Action: UUUU shares are trading higher by 17.84% to $12.88 at last check Tuesday.
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