U.S.-based critical minerals producer to resume safe ore
transport shortly, subject to precautions beyond strict USDOT
requirements and aiding the Navajo Nation in the cleanup of
abandoned uranium mines resulting from old U.S. government
programs.
DENVER, Jan. 29,
2025 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU)
(TSX: EFR), a leading U.S. producer of uranium, rare earth elements
(REE), and critical minerals, and the Navajo Nation, the largest
indigenous tribe in the U.S., today announced the signing of a
landmark agreement governing the transport of uranium ore along
federal and state highways crossing the Navajo Nation. Ore
transport from Energy Fuels' Pinyon Plain Mine in northern
Arizona to the company's White
Mesa Mill in southern Utah is now
expected to resume in February
2025.
"The Navajo Nation has suffered longstanding impacts from
uranium mining conducted during the cold war era, resulting in
numerous abandoned mine and mill sites on their lands. This has
understandably caused mistrust toward the U.S. government and
energy companies," said Energy Fuels' President and CEO
Mark Chalmers. "I am personally
honored that the Navajo Nation was willing to work with us in good
faith to address their concerns and ensure that uranium ore
transportation through the Navajo Nation will be done safely and
respectfully."
"We appreciate the sincere approach the Energy Fuels'
negotiation team took with the Navajo Nation. They demonstrated a
genuine understanding for the Navajo Nation's and the Navajo
People's trauma regarding uranium and engaged as a partner in good
faith to build a trusting relationship," stated Acting Attorney
General Heather Clah. "We look
forward to Energy Fuels fulfilling their commitments to the
Nation."
Under the agreement, Energy Fuels has agreed to add additional
protections and accommodations over and above the existing, strict
U.S. Department of Transportation (USDOT) requirements,
including:
- limiting transportation to specified routes and hours of the
day;
- not transporting ore on days involving celebrations or public
events in respect of the Navajo Nation's culture and
traditions;
- clearly spelled out emergency response procedures, notice and
reporting requirements;
- additional insurance requirements;
- additional driver qualification and training requirements;
- obtaining Navajo Nation transport licenses;
- use of state-of-the-art cover systems to prevent fugitive dust
from transport trucks;
- provisions for escorts and blessings at the discretion of the
Nation; and
- additional inspection procedures that will enable the Navajo
Nation to ensure that all applicable rules and agreements are being
satisfied.
Additionally, the company has committed to accepting and
transporting, at no cost to the Nation, up to 10,000 tons of
uranium-bearing cleanup materials from abandoned uranium mines
within the Navajo Nation, which are primarily an unfortunate relic
of old U.S. government uranium programs that began in the 1940s, in
which Energy Fuels had no involvement. The company has also
committed to make further contributions to support the Nation's
transportation safety programs, education, the environment, public
health and welfare, and local economic development on the Navajo
Nation relating to uranium matters. Negotiation of the agreement
began in August 2024, after the
company voluntarily halted shipments of uranium ore, and has
involved numerous in-person and virtual meetings between the
company and the Nation's senior leadership.
Stephen B. Etsitty, the Executive
Director of the Navajo Nation Environmental Protection Agency,
remarked: "We have a settlement agreement that will allow the
Navajo Nation to monitor and inspect the haul trucks and that
provides financial compensation for the expenses to improve
safety and protect the environment. The Navajo Nation appreciates
the support from Arizona Governor
Katie Hobbs who facilitated the
pause in transport activities which helped the Navajo Nation and
Energy Fuels conduct the negotiations."
Arizona Governor Katie Hobbs stated: "Today marks an important
step forward for our communities and shows what is possible through
collaboration, partnership, and a shared commitment to public
safety. I'm proud to have brought Energy Fuels and Navajo Nation to
the table so they could come to an agreement that addresses the
Nation's long-standing concerns and includes enhanced emergency
response plans.
"I want to thank President Nygren, Navajo Nation leadership, and
Energy Fuels for their commitment to finding common ground. This
sets an example of collaboration and progress that we can all learn
from.
"This agreement isn't just about resolving a conflict; it's a
commitment to protecting future generations, respecting Tribal
sovereignty and ensuring that all voices are heard and valued. I'm
committed to continue working on real solutions that prioritize the
safety of all Arizonans."
Chalmers continued: "We are proud to be a part of a historic
agreement with the Navajo Nation, and we are committed to
fulfilling our promises to them. We hope this agreement marks the
beginning of a constructive relationship that restores trust with
our neighbors, while also paving the way for future collaborations
on cleanups and other areas of shared interest."
Energy Fuels' operating mines and processing facilities
mentioned here are fully permitted and subject to continuous
oversight from state and federal regulators. The company has a
strong track record of safeguarding human health, protecting the
environment, and ensuring regulatory compliance, often exceeding
stringent U.S. standards in mining, transport, and mineral
processing. Energy Fuels (and its predecessor) safely hauled
several hundred thousand tons of uranium ore and other materials on
state and federal highways and interstates that cross the Navajo
Nation between 2007 and 2024 with no incidents resulting in the
spillage or release of ore. Measures outlined in the agreement
provide additional layers of protection for the Navajo and others, beyond the rigorous
standards set by the USDOT.
The ore from Energy Fuels' Pinyon Plain Mine will be processed
at the White Mesa Mill into natural uranium concentrates
(U3O8), which are used in the production of
clean, baseload nuclear energy. The mining and milling of "natural
uranium" represent the first steps in the nuclear fuel cycle for
producing zero-emission energy to the national electric grid.
Nuclear energy, which is seeing a global resurgence due to it being
a clean, reliable and affordable source of energy, currently
provides roughly 18% of all electricity generated in the U.S.,
including 46% of all carbon-free electricity, according to data
from the Nuclear Energy Institute (NEI).
Based in Denver, Colorado,
Energy Fuels remains one of the largest uranium producers in the
country and plays a crucial role in advancing U.S. energy
independence, restoring the domestic nuclear fuel cycle, and
supporting recently enacted bans on Russian uranium imports. These
initiatives, along with Energy Fuels' growing rare earth and
critical mineral capabilities, align with priorities set forth by
President Trump's Executive Orders signed on his first day in
office, including Unleashing American Energy (Executive Order
#14154, January 20, 2025) and
Declaring a National Energy Emergency (Executive Order #14159,
January 20, 2025).
Cautionary Note Regarding Forward-Looking
Statements: This news release contains certain
"Forward Looking Information" and "Forward Looking Statements"
within the meaning of applicable United
States and Canadian securities legislation applicable to
Energy Fuels. Generally, these
forward-looking statements can be identified by the use
of forward-looking terminology such as "plans," "expects," "does
not expect," "is expected," "is likely," "budgets," "scheduled,"
"estimates," "forecasts," "intends," "anticipates," "does not
anticipate," or "believes," or variations of such words and
phrases, or state that certain actions, events or results "may,"
"could," "would," "might" or "will be taken," "occur," "be
achieved" or "have the potential to." All statements, other than
statements of historical fact, herein are considered to be
forward-looking statements. Forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Energy
Fuels to be materially different from any future results,
performance or achievements express or implied by the
forward-looking statements. Forward-looking statements contained
herein are made as of the date of this news release, and Energy
Fuels disclaims, other than as required by law, any obligation to
update any forward-looking statements whether as a result of new
information, results, future events, circumstances, or if
management's estimates or opinions should change, or otherwise.
There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, the reader is cautioned not to place undue reliance on
forward-looking statements. Energy Fuels assumes no obligation to
update the information in this communication, except as otherwise
required by law.
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SOURCE Energy Fuels Inc.
