Energy Fuels Achieves First U.S.-Sourced High-Purity Terbium Production at White Mesa Mill

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) announced the successful production of its first kilogram of 99.9% pure terbium oxide at its White Mesa Mill in Utah, utilizing U.S.-sourced monazite ore. This high-purity material meets specifications required by global rare earth permanent magnet manufacturers, representing a critical milestone in domestic rare earth element production. The achievement follows the company's recent production of nearly 30 kilograms of 99.9% dysprosium oxide, further supporting its strategy to establish secure domestic supply chains for heavy rare earth materials essential for clean energy technologies.

The company's pilot-scale production will continue at approximately one kilogram per week, with plans to expand to commercial-scale output as early as 2027. Energy Fuels targets annual production of up to 12 tonnes of terbium and 35 tonnes of dysprosium, alongside broader rare earth oxide capacity growth tied to future circuit expansions. This development addresses growing concerns about supply chain vulnerabilities and dependence on foreign sources for critical minerals. The White Mesa Mill, which Energy Fuels owns and operates, is the only fully licensed and operating conventional uranium processing facility in the United States, providing existing infrastructure that can be leveraged for rare earth element production.

The successful production of high-purity terbium oxide has significant implications for multiple industries, particularly the renewable energy sector where rare earth permanent magnets are essential components in wind turbines and electric vehicle motors. Terbium and dysprosium are classified as critical minerals by the U.S. government due to their importance to national security and economic prosperity. By establishing domestic production capabilities, Energy Fuels contributes to reducing reliance on imports from China, which currently dominates global rare earth element supply chains. This development aligns with broader U.S. policy initiatives aimed at strengthening domestic critical mineral supply chains and supporting the transition to clean energy technologies.

The company's progress in rare earth element production complements its existing operations as a leading U.S. producer of natural uranium concentrate for carbon-free nuclear energy. Energy Fuels' integrated approach to critical minerals positions it to address multiple segments of the clean energy value chain. For more information about the company's activities, visit http://www.energyfuels.com. Additional news and updates relating to Energy Fuels are available through various financial communication channels that cover developments in the green economy sector.