Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) has released results from an updated feasibility study for its 100%-owned Vara Mada heavy mineral sands project in Madagascar, confirming exceptional project economics and a 38-year mine life with expansion potential. The study outlines a post-tax net present value of approximately $1.8 billion at a 10% discount rate, or $7.30 per share, and projects ramp-up to more than $500 million in annual EBITDA from the project alone.
The feasibility study highlights plans to process monazite produced at Vara Mada through the company’s White Mesa Mill in Utah, positioning Energy Fuels to supply a significant portion of projected U.S. demand for both light and heavy rare earth oxides while supporting secure, U.S.-centered critical mineral supply chains. The study confirms world-class rare earth, titanium, and zircon mineral reserves and resources, and an initially modeled 38-year mine life with potential for further expansion.
Energy Fuels is a leading U.S.-based critical materials company, focused on uranium, rare earth elements (REEs), heavy mineral sands, vanadium and medical isotopes. The company owns and operates several conventional and in-situ recovery uranium projects in the western United States and has been the leading U.S. producer of natural uranium concentrate for the past several years. Energy Fuels also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the Mill, Energy Fuels also produces advanced REE products, vanadium oxide, and is evaluating the potential recovery of certain medical isotopes from existing uranium process streams needed for emerging Targeted Alpha Therapy cancer treatments.
Energy Fuels is also developing three heavy mineral sands projects: the 100% owned Vara Mada Project in Madagascar; the 100% owned Bahia Project in Brazil; and the Donald Project in Australia, in which Energy Fuels has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU.
This announcement is significant as it underscores Energy Fuels' role in bolstering domestic critical mineral supply chains, particularly for rare earth elements essential for clean energy technologies and defense applications. The Vara Mada project’s robust economics and integration with the White Mesa Mill could reduce U.S. reliance on foreign sources of rare earth oxides. To view the full press release, visit https://ibn.fm/0lpS1.
