Energy Fuels Secures Conditional $725 Million U.S. Financing Commitment for Rare Earth Expansion

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) announced it has secured a conditional $725 million financing commitment from the U.S. Office of Strategic Capital to expand critical minerals processing capabilities at its White Mesa Mill in Utah and develop a planned rare earth metals and alloy facility in the United States. The proposed 20-year loan, subject to due diligence, definitive agreements, and customary approvals, would fund infrastructure and capacity for processing rare earth elements and other strategic materials from the company’s domestic and international project portfolio.

According to the company, the financing aligns with its strategy to build a vertically integrated rare earth supply chain and complements its planned acquisition of Australian Strategic Materials Ltd., which would add rare earth metal and alloy production expertise and facilities in South Korea. Energy Fuels said the proposed financing, along with other project-level funding discussions, is expected to provide additional long-term capital flexibility as it advances rare earth, uranium, and critical minerals initiatives.

The White Mesa Mill is the only fully licensed conventional uranium mill operating in the U.S., and Energy Fuels has been the top U.S. producer of natural uranium concentrate. In addition to uranium, the company produces rare earth element products and 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.

This financing commitment represents a significant step in reducing U.S. dependence on foreign rare earth supply chains, particularly from China, which dominates global rare earth processing. The expansion of domestic processing capabilities is critical for national security and the growth of clean energy technologies, such as electric vehicles and wind turbines, which rely on rare earth elements.

Investors can find the latest news and updates relating to Energy Fuels in the company’s newsroom at http://ibn.fm/UUUU. The full press release is available at https://ibn.fm/PrwZg.