Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) has initiated the expansion of its White Mesa Mill in Utah to enable commercial-scale production of heavy rare earth oxides, marking a significant step in its strategy to develop a fully integrated Western mine-to-magnet supply chain. The project 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. This expansion is expected to support manufacturing of rare earth metals, alloys, and magnets for automotive, robotics, data center, energy, and defense sectors, while reducing reliance on Chinese supply chains.
The approximately $104 million expansion 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 and other sources. 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, humanoid robots, and other advanced technologies.
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. The company also produces rare earth element products at the mill and evaluates medical isotope recovery for emerging cancer therapies. Beyond uranium and rare earths, Energy Fuels is developing three heavy mineral sands 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).
This expansion aligns with broader efforts to secure critical mineral supply chains in North America and Europe. The U.S. government has increasingly emphasized domestic production of rare earth elements, which are essential for defense systems and clean energy technologies. By integrating upstream mining with downstream magnet manufacturing, Energy Fuels aims to provide a secure and sustainable source of rare earth materials for Western industries.
For more details, the full press release is available at https://ibn.fm/S04FF. The latest news and updates on Energy Fuels can be found at http://ibn.fm/UUUU.
