- Energy Fuels (UUUU, Financial) is set to produce six of seven rare earth oxides subject to Chinese export controls.
- The company plans to expand its monazite processing capacity from 10,000 to 60,000 tonnes per year.
- Production from newly acquired heavy mineral sands projects is expected to begin by 2028.
Energy Fuels Inc. (UUUU), a prominent U.S. uranium and rare earth elements producer, has announced its ability to produce six of seven rare earth oxides currently restricted under Chinese export controls. These include samarium, gadolinium, dysprosium, terbium, lutetium, and yttrium. The production is based out of their White Mesa Mill in Utah, where they have developed technology to process monazite ore into these valuable oxides.
The announcement aligns with President Trump's Section 232 investigation into critical minerals imports, which potentially underscores the strategic importance of such developments in the context of national security. Energy Fuels' current capability allows for the processing of 10,000 tonnes of monazite concentrate annually, yielding up to 1,000 tonnes of NdPr oxide. The company aims to expand this capacity significantly to 60,000 tonnes per year.
In securing a future supply of monazite, Energy Fuels has acquired three large-scale heavy mineral sands (HMS) projects in the Southern Hemisphere, poised to contribute monazite concentrates starting in 2028. Until these mines are operational, the company will continue sourcing monazite from existing relationships with Chemours Company's mines located in Florida and Georgia.
Despite these promising developments, Energy Fuels remains dependent on external monazite supplies until the newly secured projects become productive. The success of these ventures hinges on government support and favorable market conditions, particularly given the increasing geopolitical tensions surrounding critical mineral resources.
