Energy Fuels selling vanadium inventory, eyes uranium contracts

Energy Fuels selling vanadium inventory, eyes uranium contracts

The White Mesa mill in Utah The White Mesa mill in Utah US-based Energy Fuels believes the next upward cycle for vanadium may have begun and has started selling some of its 1.65-million-pound inventory, while it is also actively pursuing uranium sales contracts.

The company, which also produces rare earth elements (REE), explains that in 2019 it built a significant inventory of vanadium to sell into the abrupt upside price volatility that vanadium markets experience, most recently in late 2018. CEO Mark Chalmer says the next upward cycle may have begun with prices having risen sharply in the first months of 2022, following a 62% increase in vanadium oxide (V 2 O 5 ) prices last year. At current prices, the vanadium inventory is worth about $20.2-million.

While no vanadium production is planned for 2022, the company is evaluating the potential to resume production from the White Mesa mill’s pond solutions […]

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