LAKEWOOD, Colo., Dec. 21, 2020 /CNW/ - Energy Fuels Inc.
(NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the
"Company") is pleased to announce it has published its
Sustainability Report, along with its Climate Change Policy, Human
Rights Policy and Vendor Code of Conduct, which together with its
other policies describe the Company's ongoing commitment to the
environment, worker health, public safety and social
responsibility, including its important role in combating global
climate change through producing and recycling carbon-free energy
resources. Each of these documents is publicly available on the
Company's website at the following links:
Sustainability Report
Climate Change Policy, Human Rights Policy,
Vendor Code of Conduct and other Policies
Through the Sustainability Report, the Company shares the key
efforts, initiatives and factors that guide the Company in all
aspects of its business. These documents highlight the Company's
unwavering commitment to sustainability and social responsibility.
The Sustainability Report highlights:
- The Company's commitment to health, safety and environmental
responsibility;
- How the Company addresses global climate change and reduces air
pollution through the production of uranium, the largest source of
carbon-free energy in the world;
- Additional contributions the Company makes to clean energy
through its vanadium production and upcoming rare earth
production;
- How the Company preserves global resources, reduces carbon
emissions and helps address global climate change through its
industry-leading recycling programs;
- The Company's contributions to the communities in which it
operates;
- An overview of the Company's comprehensive regulatory
framework, which ensures the protection of public health, safety
and the environment at the highest global standards;
- The world-class reclamation standards that apply to the
Company's assets;
- The Company's pledge to help address the Cold War legacy of
uranium mining; and
- The Company's commitment to human rights and corporate and
social responsibility.
Mark S. Chalmers, President and
CEO of Energy Fuels stated: "Energy Fuels might be the best untold
clean energy and sustainability story in the U.S. today. We believe
our recently published Sustainability Report tells this story,
along with our commitments to human rights and corporate and social
responsibility. We are proud of the growing roles we play in
helping address global climate change, reducing air pollution,
making clean energy technologies possible, and working to make the
world a healthier and cleaner place."
Energy Fuels is a uranium and vanadium mining, and rare earth
element ("REE") processing, company operating in the western
United States dedicated to
sustainability through corporate, environmental and social
responsibility. The Company is also a global model for responsible
mining and recycling. The materials that Energy Fuels responsibly
produces and recycles are helping to address some of the most
daunting health and environmental issues facing the world today:
air pollution and climate change.
Uranium, Vanadium & Rare Earth
Elements
Uranium is the fuel for carbon-free, emission-free baseload
nuclear power – one of the cleanest forms of energy in the world.
Vanadium, which today is mainly used in the steel, aerospace, and
chemical industries, is also expected to increase its contribution
to environmental sustainability, as next-generation, grid-scale
batteries utilizing vanadium are now being commercialized to store
energy generated from renewable sources. REEs, which are a group of
17 chemical elements, are the building-blocks for a wide array of
clean energy and advanced technologies, including wind turbines,
electric vehicles, cell phones, computers, flat panel displays,
advanced optics, catalysts, medicine, and national defense
applications.
Uranium & Vanadium Recycling
Energy Fuels is also committed to environmental responsibility
through its industry-leading recycling programs. The Company
recycles uranium-bearing material for the extraction of uranium at
its White Mesa Mill in Utah that
would otherwise be lost to direct disposal. This includes material
from other metal mining and processing, the uranium conversion
process, and other sources. The Company has also recently recycled
high-purity vanadium from its tailings facilities. The Company
believes it is important to recycle and reuse as much material as
possible in order to reduce the need for more mining of the world's
finite resources.
Over its history, the Mill has recycled over six (6) million
pounds of uranium and over 1.8 million pounds of high-purity
vanadium product, all of which would otherwise have been lost to
direct disposal. That amount of recycled uranium, after being
converted to nuclear fuel, would:
- Eliminate over 85 million tons of CO2 emissions
compared to coal, or the same amount of annual emissions as 18
million passenger vehicles or about one and a half times the annual
CO2 emissions from the entire country of Sweden;
- Produce as much electricity as approximately 50 million tons of
coal, or enough to fill a coal train that extends from Los Angeles to New
York City and almost all of the way back; and
- Produce as much electricity as about 24,500 wind turbines
annually, representing almost half of the 60,000 wind turbines in
the U.S. in 2019.
The 1.8 million pounds of vanadium Energy Fuels has recycled
would produce enough vanadium for the steel girders needed to build
four and a half Golden Gate Bridges.
All of this from just one company. We are not aware of any other
mining company that can cite these types of recycling
accomplishments and their direct impacts on combating global
climate change.
Addressing the Cold War Legacy of Uranium
Mining
In addition, the Company seeks out opportunities to help address
the adverse environmental and health impacts caused by historic
Cold War era uranium mining practices. The Mill is currently
recycling clean-up material from a closed uranium mine in northwest
New Mexico and recovering the
contained uranium which will be used for the generation of clean,
carbon-free nuclear energy. The Company is also seeking to assist
in the clean-up of abandoned, government-sponsored Cold War era
uranium mines across the Navajo Nation and Four Corners area of the United States, which continue to cause
environmental issues today. We are proud of our ability to play a
part in cleaning up these legacy Cold War era sites in the U.S. and
returning the environment to the strict standards required
today.
Excellent Record of Environmental &
Regulatory Compliance
The Company performs all of these beneficial activities in
accordance with and, when possible, to a stricter standard than,
all applicable laws and regulations. The U.S. leads the world in
rigorous laws, regulations and other requirements that mandate
responsible exploration, construction, extraction, recovery,
processing, exports, labor standards, occupational health and
safety, transportation, waste disposal, protection and remediation
of the environment, protection of species, toxic and hazardous
substances, and other key environmental and health matters. Energy
Fuels' record in these areas is exceptional.
Social Responsibility
Energy Fuels also contributes meaningfully to the communities in
which it operates, helping to provide many social and economic
benefits in rural and underserved areas of the United States, including jobs to local
workforces, contributions to local taxes that fund schools,
hospitals and roads, and economic development for those
communities. Approximately half of the Company's employees at its
White Mesa Mill are Native American.
Mr. Chalmers continued: "For decades, we have integrated
environmental and social pillars into every facet of our business.
I have worked all over the world, and I can affirmatively say that
the U.S. produces the raw materials needed for a modern, clean
society more responsibly than anywhere else I've seen. I am
proud of the work we are doing at Energy Fuels to bring about a new
era of responsible, socially-focused critical mineral mining,
milling and recycling in the U.S.
"It is also my hope that our burgeoning rare earth business will
provide significant opportunities for the Four Corners area of the United States. If we are successful in
producing a mixed rare earth concentrate and uranium from natural
monazite ore, we hope to grow this business to the point that we
are able to help create a fully-integrated U.S. REE supply chain.
With investment and jobs flowing into this region, which is one of
the poorest in the U.S., there will be multiple opportunities to
address numerous pressing needs. We hope to be a part of the
solution to these needs.
"Finally, it is past time for the U.S. government to address the
Cold War legacy of abandoned uranium mines on the Navajo Nation.
Energy Fuels is aggressively urging the U.S. government to live up
to its obligations to the Navajo People and start cleanups now.
There is ample money available, and our White Mesa Mill can receive
and recycle clean-up material versus having it buried onsite on
tribal lands, an option that may not be available for many years,
if ever. This would also be a wonderful job and economic
development opportunity for the Navajo. I have lived and worked
with the Navajo and other Indigenous Peoples around the world
throughout my career, and I have great respect for their unique and
varied traditions, cultural identities and use of the land and
natural resources to sustain and nurture both life and spirit. It
would be a great personal and professional triumph to help reverse
the Cold War legacy of uranium mining on the Navajo Nation."
About Energy Fuels: Energy Fuels is a leading
U.S.-based uranium mining company, supplying
U3O8 to major nuclear utilities. The Company
also produces vanadium from certain of its projects, as market
conditions warrant, and anticipates commencing commercial
production of rare earth element ("REE") carbonate in 2021. Its
corporate offices are in Lakewood,
Colorado, near Denver, and
all of its assets and employees are in the United States. Energy Fuels holds three of
America's key uranium production centers: the White Mesa Mill in
Utah, the Nichols Ranch in-situ
recovery ("ISR") Project in Wyoming, and the Alta Mesa ISR Project in
Texas. The White Mesa Mill is the
only conventional uranium mill operating in the U.S. today, has a
licensed capacity of over 8 million pounds of
U3O8 per year, has the ability to produce
vanadium when market conditions warrant, and is completing final
test-work for the production of REE carbonate from various
uranium-bearing ores. The Nichols Ranch ISR Project is on standby
and has a licensed capacity of 2 million pounds of
U3O8 per year. The Alta Mesa ISR Project is
also on standby and has a licensed capacity of 1.5 million pounds
of U3O8 per year. In addition to the above
production facilities, Energy Fuels also has one of the largest NI
43-101 compliant uranium resource portfolios in the U.S. and
several uranium and uranium/vanadium mining projects on standby and
in various stages of permitting and development. The primary
trading market for Energy Fuels' common shares is the NYSE American
under the trading symbol "UUUU," and the Company's common shares
are also listed on the Toronto Stock Exchange under the trading
symbol "EFR." Energy Fuels' website is www.energyfuels.com.
Cautionary Note Regarding Forward-Looking
Statements: This news release contains
certain "Forward Looking Information" and "Forward Looking
Statements" within the meaning of applicable securities
legislation, which may include, but is not limited to, statements
with respect to: the Company being a leading producer of uranium in
the U.S.; any expectation that the Company will be able to produce
REE carbonate from uranium-bearing ores or that the Company will
commence commercial production of REE carbonate in 2021 or at
all; any expectation that the Company may provide
significant opportunities for the Four
Corners area of the United
States; any expectation that the Company may grow its REE
business to the point that the Company is able to help create a
fully-integrated U.S. REE supply chain; any expectation that the
Company will be successful in helping the U.S. government and
Navajo Nation address historic abandoned uranium mines; and any
other statements regarding Energy Fuels' future expectations,
beliefs, goals or prospects constitute forward-looking information
within the meaning of applicable securities legislation
(collectively, "forward-looking statements"). All statements in
this news release that are not statements of historical fact
(including statements containing the words "expects," "does not
expect," "plans," "anticipates," "does not anticipate," "believes,"
"intends," "estimates," "projects," "potential," "scheduled,"
"forecast," "budget" and similar expressions) should be considered
forward-looking statements. All such forward-looking statements are
subject to important risk factors and uncertainties, many of which
are beyond Energy Fuels' ability to control or predict. A number of
important factors could cause actual results or events to differ
materially from those indicated or implied by such forward-looking
statements, including without limitation factors relating to: the
Company being a leading producer of uranium in the U.S.; any
expectation that the Company will be able to produce REE carbonate
from uranium-bearing ores or that the Company will commence
commercial production of REE carbonate in 2021 or at all; any
expectation that the Company may provide significant opportunities
for the Four Corners area of
the United States; any expectation
that the Company may grow its REE business to the point that the
Company is able to help create a fully-integrated U.S. REE supply
chain; any expectation that the Company will be successful in
helping the U.S. government and Navajo Nation address historic
abandoned uranium mines; and the other risk factors as described in
Energy Fuels' most recent annual report on Form 10-K and quarterly
financial reports. Energy Fuels assumes no obligation to update the
information in this communication, except as otherwise required by
law. Additional information identifying risks and uncertainties is
contained in Energy Fuels' filings with the various securities
commissions, which are available online at www.sec.gov and
www.sedar.com. Forward-looking statements are provided for the
purpose of providing information about the current expectations,
beliefs and plans of the management of Energy Fuels relating to the
future. Readers are cautioned that such statements may not be
appropriate for other purposes. Readers are also cautioned not to
place undue reliance on these forward-looking statements, that
speak only as of the date hereof.
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SOURCE Energy Fuels Inc.