Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a U.S.-based uranium and rare earth elements producer, announced the appointment of Jeffrey Olsen to its board of directors, where he will also serve as a financial expert on the Audit Committee. The addition of Olsen, a seasoned mining executive with decades of financial, commercial and operational leadership experience, signals the company's commitment to strengthening its strategic and financial oversight as it expands its critical materials businesses.
Olsen's career includes serving as president and CEO of Boart Longyear Group from 2016 to 2024 and as its chief financial officer from 2014 to 2016. During his tenure, he led restructuring initiatives, strengthened the company's capital structure and advanced its drilling technology and orebody intelligence capabilities. Before joining Boart Longyear, Olsen spent 18 years at Rio Tinto in senior financial and commercial positions, including chief commercial officer of Rio Tinto Iron & Titanium and chief financial officer roles at Rio Tinto Minerals and Rio Tinto Borax. He currently serves as a nonexecutive director of Dyno Nobel Ltd. and Savage Companies, where he also chairs the Audit Committee.
Energy Fuels President and CEO Ross Bhappu said Olsen's mining industry leadership and financial expertise will support the company's strategy and continued expansion of its critical materials businesses. The appointment comes at a pivotal time for Energy Fuels, which owns the only fully licensed conventional uranium mill operating in the U.S. – the White Mesa Mill in Utah – where it also produces rare earth element products and evaluates medical isotope recovery for emerging cancer therapies. Additionally, the company is developing three heavy mineral sands/rare earths projects: the Vara Mada Project in Madagascar, Bahia Project in Brazil, and Donald Project in Australia through a joint venture with Astron Limited.
Olsen's extensive experience in restructuring and capital markets could prove invaluable as Energy Fuels navigates the complex landscape of critical materials production, which is increasingly vital for national security and the transition to clean energy. His background in drilling technology and orebody intelligence may also aid the company in optimizing its mining operations and exploration efforts. For investors seeking more information, the full press release is available at https://ibn.fm/KQ8rj, and the latest news and updates relating to UUUU can be found in the company's newsroom at http://ibn.fm/UUUU.
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