Energy Fuels and Vulcan Elements are partnering to secure a US supply of Rare Earth Magnets by processing Rare Earth Elements like Neodymium-Praseodymium and Dysprosium by signing a landmark Memorandum of Understanding (MOU) to build a resilient domestic supply chain that reduces reliance on China.
Energy Fuels, a US producer of separated rare earth elements, will supply initial batches of Neodymium-Praseodymium (NdPr) and Dysprosium (Dy) oxides to Vulcan Elements in Q4 2025. Vulcan, a North Carolina-based manufacturer of high-performance Rare Earth Magnets, will validate the oxides for defense and commercial use.
After successful validation, the companies plan to negotiate long-term supply agreements, securing a consistent domestic pipeline of rare earth materials.
Vulcan Elements’ CEO John Maslin said, “Together, Vulcan Elements and Energy Fuels are onshoring one of the most important supply chains for America’s future economy and security. We believe this collaboration will enable Vulcan to ensure it has access to the rare earth materials it needs to deliver high-performance magnets for critical technologies and essential military capabilities.”
From US Mines to US Manufacturing
The NdPr and Dysprosium oxides that Energy Fuels delivers will come exclusively from US mines and be processed at the White Mesa Mill in Utah, the only operating facility in the United States capable of turning monazite concentrates into separated rare earth oxides.
Monazite, sourced from heavy mineral sand mines in Florida and Georgia, contains higher concentrations of Rare Earth Elements than other mineral sources, giving Energy Fuels a strong competitive advantage.
Vulcan Elements has already established its presence in the defense and commercial sectors, producing sintered neodymium-iron-boron magnets at its facility in Durham, North Carolina. The company raised $65 million in Series A funding, led by Altimeter Capital with participation from NVIDIA, Uber, Grab, and One Investment Management.
Vulcan will use the funds to expand operations and accelerate development efforts. CEO John Maslin emphasized the company’s mission to strengthen America’s rare earth magnet supply chain and support the nation’s manufacturing base.
Scaling Up Rare Earth Innovation
Energy Fuels has already produced high-purity NdPr at a commercial scale, validated by downstream alloy and magnet manufacturers. In 2025, the company expects to deliver kilogram-scale samples of Dysprosium oxide in August and Terbium oxide by year-end. Together with Vulcan, it aims to expand rare earth magnet production for applications in satellites, artificial intelligence infrastructure, semiconductor fabrication, robotics, drones, electric vehicles, and defense systems.
This collaboration highlights a pivotal moment in US industrial policy. Rare Earth Magnets are essential for the energy transition and defense readiness; however, China has long dominated the supply chains.
By leveraging domestic Rare Earth Elements through Energy Fuels and channeling them into advanced magnet manufacturing at Vulcan, the United States is moving toward independence in a sector vital to both commercial innovation and national security.
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