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 […]

Click here to view original web page at www.miningweekly.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.