Vitality Fuels (TSX:EFR,NYSEAMERICAN:UUUU) introduced the appointment of Debra Bennethum, previously of Basic Motors (GM) (NYSE:GM), as director of vital minerals and strategic provide chain.
In accordance with a Monday (June 17) release, Bennethum brings intensive experience from her tenure at GM, the place she labored to make sure safe provide of key EV supplies, together with uncommon earths and important battery minerals.
Her function included discovering and vetting suppliers, in addition to main negotiations for long-term provide offers. Bennethum additionally managed funding initiatives value over US$1.5 billion, forging strategic partnerships for GM.
At Vitality Fuels, she is going to leverage her expertise to boost the corporate’s uncommon earths enterprise. This contains strengthening relationships with unique tools producers (OEMs) and negotiating provide agreements.
Her appointment underscores Vitality Fuels’ dedication to increasing its US-based uncommon earths operations, highlighted by latest industrial manufacturing of on-spec separated uncommon earths on the White Mesa mill in Utah.
“Ms. Bennethum brings a wealth of information and relationships in EV and automotive provide chains to advance Vitality Fuels’ U.S.-leading, built-in uncommon earth enterprise, which lately started industrial manufacturing of ‘on spec’ separated uncommon earths at our White Mesa Mill in Utah, USA,” stated Vitality Fuels President and CEO Mark Chalmers in a press release.
“Having labored at GM for over 12 years, together with key roles in EV, hybrid and important mineral provide chains, we imagine Ms. Bennethum is the perfect particular person to guide Vitality Fuels’ uncommon earth advertising and marketing efforts and collaborations, together with the sale of our merchandise to metal-makers, magnet-makers, EV and automotive OEMs, renewable vitality corporations, uncommon earth recycling corporations, U.S. protection suppliers, and different prospects,” he added.
White Mesa achieved industrial manufacturing of on-spec separated uncommon earths on June 10, making it one of many largest industrial uncommon earths separation circuits exterior of China. The mill is able to producing separated neodymium-praseodymium (NdPr), important for high-performance magnets in EVs and renewable vitality applied sciences.
Vitality Fuels anticipates ramping up manufacturing to fulfill rising demand whereas advancing its uranium operations. The corporate is a number one US uranium miner and produces vanadium when market circumstances are applicable.
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Securities Disclosure: I, Giann Liguid, maintain no direct funding curiosity in any firm talked about on this article.
Editorial Disclosure: Vitality Fuels is a shopper of the Investing Information Community. This text is just not paid-for content material.