Energy Fuels becomes first U.S. company with approved rare earth oxides for EV and defense magnets, aiding supply chain security.

Energy Fuels Inc. said its high-purity dysprosium oxide passed quality tests from a major South Korean automaker for use in electric vehicle and defense magnets. The 99.9% pure material meets critical standards for neodymium-iron-boron magnets, making Energy Fuels the first U.S. company with both light and heavy rare earth oxides approved for magnet production. The company produced 29 kilograms at pilot scale and plans commercial-scale output of up to 48 metric tons of dysprosium oxide and 14 tons of terbium oxide annually by late 2026. This milestone supports U.S. efforts to secure rare earth supply chains amid China’s export restrictions on key materials.