In this newly released video, Neo’s Constantine Karayannopoulos expounds on the business strategy behind the launch of a new rare earth supply chain to feed Neo’s Silmet processing facility in Estonia, the only commercial rare earth processing facility in Europe. This rare earth feedstock is produced by Colorado-based Energy Fuels, Inc. from monazite sands mined in the U.S.
“This feed material will allow Silmet to expand its production, which is a necessary step that Silmet needs to take,” Mr. Karanayannopoulos said. “This gives us diversification and increased security of supply for our business model, which involves value-added production in Europe and, in the future we hope, significant expansion of those capabilities.”
“We are seeing very impressive growth in demand for rare earths, and value-added rare earth products especially in the magnetics sector, all associated with growth in EV production in Europe and other green technologies,” he added. “Europe is a market where Neo wants to be long term, and if demand unfolds the way we expect, I certainly expect that we will be expanding not only our current capacity in Europe but also adding additional value-added downstream processing for some of our key strategic customers in Europe.”
For more information on Neo Performance Materials, please go here: https://www.neomaterials.com
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