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Energy Fuels Overview
Energy Fuels Inc. (UUUU), a US-based uranium miner, is the only conventional uranium mill with a fully licensed facility at its White Mesa Mill in Utah. The company is expanding into rare earth elements and critical minerals to address the growing energy demands, particularly for nuclear power as data center load growth is projected to double or triple by 2028.
Nuclear Energy’s Role
As companies like Meta Platforms and Amazon invest heavily in data centers, the US Department of Energy notes that energy consumption has tripled in the last decade. Nuclear energy, advocated by the Trump Administration and supported by Secretary of Energy Chris Wright, is favored as a long-term, reliable, and cost-effective solution amidst rising energy prices.
Rare Earth Elements Context
Rare earth elements have gained prominence amid the trade tensions between the US and China. While a temporary agreement exists, the US government aims to secure its own REE supply chains as these elements are crucial for semiconductors and other modern technologies.
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