Energy Fuels

Australian Strategic Materials (ASM) emphasized at the Diggers & Dealers Forum the shift from project to commercial activities: the Korean metal plant is producing light and heavy rare earths commercially as well as NdFeB alloys. Capital costs for the Dubbo project were reduced to A$740 million according to a scoping study, with further savings possible through mixed-hydroxide processing. ASM is considering a takeover by Energy Fuels, which could create a mine-to-magnet supply chain and would offer shareholders a proposal implying a 44% premium, but the deal depends on shareholder approval and completion of the Vacuumschmelze transaction. » More on de.investing.com

Energy Fuels has begun expanding the White Mesa Mill in Utah to produce heavy rare-earth oxides such as terbium, dysprosium, samarium, europium and gadolinium. The expansion is intended to create annual capacities of about 20 t terbium oxide, 120 t dysprosium oxide, 140 t samarium oxide, 20 t europium oxide and 140 t gadolinium oxide; terbium and dysprosium circuits are to be completed by the end of 2027, the remaining circuits by the end of 2028. Investment costs are estimated at around USD 104 million; the US government is expected to finance part via a conditional loan guarantee, with the equity portion coming from working capital (approximately USD 960 million as of 31 Mar 2026). The plant is intended to process monazite from the Donald Project joint venture in Australia, whose production is expected from 2028, and a further expansion to increase capacity is planned for 2029. » More on de.investing.com

U.S. raw materials firm Energy Fuels is acquiring Hanau-based Vacuumschmelze for $1.9 billion to build a complete production chain for permanent magnets that is independent of China. VAC is considered the most important western manufacturer of permanent magnets and brings research, development and production capacity. Energy Fuels contributes mining and refining expertise from several countries; both companies see a chance to bypass supply bottlenecks caused by China. The German federal government could make approval conditional on production commitments. » More on faz.net

Energy Fuels' stock rose 16.8% in premarket trading after a conditional $725 million loan commitment from the Office of Strategic Capital. The funds are earmarked for building a U.S. facility for the separation and metallization of rare earths and will be supplemented by private capital. The aim is to accelerate domestic production of critical rare earths for permanent magnets and to reduce dependence on China. Market observers view the commitment as a significant reduction in the risk to Energy Fuels' expansion plans. » More on de.investing.com

Energy Fuels forecasts about 1.6 million pounds of finished uranium by June 30, 2026, within its annual guidance of 1.5–2.5 million pounds. The uranium will be processed at the White Mesa Mill from ore from the Pinyon Plain Mine and the La Sal complex, implying an average monthly production of more than 265,000 pounds. The company plans to complete the current processing run by the end of June and expects to resume ore processing in Q4 2026; starting in July it will begin retooling for commercial heavy rare earths production, which is scheduled to come online in late 2027 to early 2028. Energy Fuels reports mining and processing costs of $23–30 per pound at Pinyon Plain and $9–12 per pound at the White Mesa Mill, is conducting extensive development drilling, and has a dividend yield of 7.51% with a market capitalization of about $311 million. » More on de.investing.com