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FAQ: Energy Fuels' White Mesa Mill Phase 2 REE Expansion Feasibility Study
TL;DR
Energy Fuels' Phase 2 expansion positions it as a dominant, low-cost rare earth producer with strong financials, offering investors a competitive edge in the critical materials market.
The feasibility study outlines a $410 million capital cost, 33% IRR, and plans to produce over 6,000 tonnes annually by 2029 after regulatory approval in 2027.
This expansion strengthens U.S. rare earth supply chains, reducing dependence on foreign sources and supporting sustainable energy and technology development for a cleaner future.
Energy Fuels' Utah mill could become one of the world's largest rare earth oxide producers, transforming uranium processing into a hub for advanced materials.
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Energy Fuels Inc. announced the results of a Bankable Feasibility Study for its planned Phase 2 rare earth element (REE) processing circuit expansion at its White Mesa Mill in Utah, confirming strong economics and the potential to supply a significant share of U.S. rare earth demand.
The study outlines an estimated $410 million initial capital cost, an after-tax Net Present Value (NPV) of $1.9 billion at an 8% discount rate, and a 33% Internal Rate of Return (IRR) for the Phase 2 Circuit on a standalone basis. The combined NPV rises to $3.7 billion when paired with the Vara Mada project.
Upon commissioning, the Phase 2 Circuit is expected to expand NdPr oxide production capacity to more than 6,000 tonnes per year. Regulatory approval is anticipated by mid-2027, with construction and commissioning targeted by the first quarter of 2029.
The White Mesa Mill is located in Utah and is 100%-owned by Energy Fuels Inc. It is described as the only fully licensed and operating conventional uranium processing facility in the United States.
This expansion positions the White Mesa Mill among the world's largest and lowest-cost producers of light and heavy rare earth oxides, with the potential to supply a significant share of U.S. rare earth demand, reducing reliance on foreign sources for these critical materials.
Energy Fuels is a U.S.-based critical materials company focused on uranium, rare earth elements, heavy mineral sands, vanadium, and medical isotopes. It is developing three heavy mineral sands projects: the Vara Mada Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia.
The full press release can be viewed at https://ibn.fm/32xlV. The latest news and updates relating to Energy Fuels (ticker: UUUU) are available in the company's newsroom at http://ibn.fm/UUUU.
BillionDollarClub (BDC) is a specialized communications platform that published this article. It is one of 75+ brands within the Dynamic Brand Portfolio at IBN (InvestorBrandNetwork), which focuses on the biggest and brightest companies covered by IBN.
Curated from InvestorBrandNetwork (IBN)
