Mentioned:
Energy Fuels is starting new construction in Utah. And they’re aiming to scale up their production of heavy rare earth oxides.
What’s happening:
- Energy Fuels (NYSE: UUUU) has publicly stated they have begun construction on an expansion of their White Mesa Mill in Utah to enable large scale production of heavy rare earth oxides
Why it matters:
- The new capacity being built at Energy Fuels’ White Mesa Mill is expected to be able to meaningfully add to their production capabilities of heavy rare earth oxides including terbium, dysprosium, samarium and gadolinium
Going deeper:
- Energy Fuels’ new expansion at their White Mesa Mill will also include a circuit for the processing of mixed rare earth carbonates to enable Energy Fuels to process additional types of feedstocks and produce rare earth oxides and uranium simultaneously
- The Pentagon’s Office of Strategic Capital recently made major waves when they gave Energy Fuels a conditional funding commitment of up to $725M USD in long term debt to scale up their rare earth processing operations
The intrigue:
- Energy Fuels recently also recently entered into a deal to acquire German rare earth magnet producer VAC in a cash and stock deal worth $1.9B USD (INTERNAL HYPERLINK- UUUU buying a German rare earth magnet producer)
