Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) has commenced expansion of its White Mesa Mill in Utah to enable commercial-scale production of heavy rare earth oxides, a move that strengthens efforts to create a fully integrated Western mine-to-magnet supply chain. The project, expected to be completed by the end of 2028, will add capacity to produce terbium, dysprosium, samarium, europium and gadolinium oxides, complementing the mill's existing light rare earth oxide production.
The expansion is projected to cost approximately $104 million and will be funded through a combination of government support and company capital. Commercial production is tied to anticipated monazite feedstock from the Donald Project in Australia, developed through a joint venture with Astron Limited, and other sources. According to Energy Fuels, the expanded facility is expected to supply a significant portion of the rare earth oxides needed by its pending acquisitions of Australian Strategic Materials Ltd. (ASX: ASM) and Vacuumschmelze GmbH, supporting an integrated mine-to-magnet platform.
This platform is designed to produce enough permanent magnets annually for millions of electric vehicles, humanoid robots, and other advanced technologies. The company said the expansion will support production of rare earth metals, alloys and magnets for the automotive, robotics, data center, energy and defense sectors while strengthening North American and European supply chains. The White Mesa Mill is the only fully licensed conventional uranium mill operating in the U.S., and Energy Fuels also uses it to produce rare earth element products and evaluate medical isotope recovery for emerging cancer therapies.
Energy Fuels is a leading U.S. critical materials company specializing in uranium, rare earth elements, heavy mineral sands, vanadium, and medical isotope development. In addition to the Donald Project, the company is developing the Vara Mada Project in Madagascar and the Bahia Project in Brazil. For more information, visit https://ibn.fm/S04FF. The latest news and updates relating to UUUU are available at http://ibn.fm/UUUU.
