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 bolsters efforts to create a fully integrated Western mine-to-magnet supply chain. The project, expected to cost approximately $104 million, will add capacity to produce terbium, dysprosium, samarium, europium, and gadolinium oxides by the end of 2028, complementing the mill's existing light rare earth oxide production.
The expansion is strategically significant as it targets heavy rare earth elements essential for permanent magnets used in electric vehicles, humanoid robots, data centers, and defense systems. Energy Fuels said 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 capable of producing enough permanent magnets annually for millions of electric vehicles and other advanced technologies.
Funding for the expansion will come from a combination of government support and company capital. Commercial production is tied to anticipated monazite feedstock from the Donald Project in Australia and other sources. The White Mesa Mill is the only fully licensed conventional uranium mill operating in the U.S., and Energy Fuels has been the top U.S. producer of natural uranium concentrate, supplying nuclear utilities. The company also produces rare earth element products at the mill and evaluates medical isotope recovery for emerging cancer therapies.
The announcement underscores the growing importance of domestic critical mineral processing as countries seek to reduce dependence on Chinese supply chains. By expanding heavy rare earth production, Energy Fuels positions itself to serve the automotive, robotics, data center, energy, and defense sectors while strengthening North American and European supply chains. The company is also developing three heavy mineral sands and rare earth projects: the Vara Mada Project in Madagascar, Bahia Project in Brazil, and Donald Project in Australia through a joint venture with Astron Limited.
For more details, visit the full press release at https://ibn.fm/S04FF. Energy Fuels shares trade on the NYSE American under the symbol UUUU and on the TSX under EFR. The latest news and updates are available in the company's newsroom at http://ibn.fm/UUUU.
