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 North American and European supply chains for critical materials used in electric vehicles, robotics, data centers, energy, and defense sectors. 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 a key component of Energy Fuels' strategy to build a fully integrated Western mine-to-magnet supply chain. The company plans to fund the project through 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 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 platform capable of producing enough permanent magnets annually for millions of electric vehicles, humanoid robots, and other advanced technologies.
The announcement comes as global demand for rare earth elements, particularly heavy rare earths like dysprosium and terbium, continues to rise due to their critical role in high-strength permanent magnets. Currently, China dominates the production and processing of these materials, creating supply chain vulnerabilities for Western nations. Energy Fuels' expansion aims to reduce this dependence by establishing domestic processing capabilities. The White Mesa Mill is the only fully licensed conventional uranium mill operating in the U.S. and already produces rare earth element products.
Energy Fuels is also developing three heavy mineral sands and rare earths projects: the Vara Mada Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia through a joint venture with Astron Limited. These projects are expected to provide additional feedstock for the mill. The company has been the top U.S. producer of natural uranium concentrate and is evaluating medical isotope recovery for emerging cancer therapies.
For more information, visit the company's newsroom at http://ibn.fm/UUUU. The full press release is available at https://ibn.fm/S04FF.
