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, marking a significant step toward establishing a fully integrated Western mine-to-magnet supply chain. The project, announced in a press release, aims to 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 expected to support production of rare earth metals, alloys and magnets for the automotive, robotics, data center, energy and defense sectors while strengthening North American and European supply chains.
The approximately $104 million expansion will be funded through a combination of government support and company capital, with commercial production 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 full press release is available at https://ibn.fm/S04FF.
The White Mesa Mill is the only fully licensed conventional uranium mill operating in the United States, and Energy Fuels is the top U.S. producer of natural uranium concentrate. In addition to rare earth production, the company evaluates medical isotope recovery for emerging cancer therapies. Energy Fuels is also 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. The company's shares trade on the NYSE American and TSX under the ticker symbols "UUUU" and "EFR," respectively. More information is available in the company's newsroom at http://ibn.fm/UUUU.
This expansion underscores the strategic importance of securing domestic and allied-nation supply chains for rare earth elements, which are critical for modern technologies and defense applications. By adding heavy rare earth production to its existing capabilities, Energy Fuels is positioning itself as a key player in reducing reliance on foreign sources, particularly China, which dominates global rare earth processing. The move aligns with broader U.S. and European policy efforts to bolster critical mineral independence and support the transition to electric vehicles and renewable energy systems.
