Energy Fuels (TSE:EFR) has released an update.
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Energy Fuels is set to develop the Donald Rare Earth and Mineral Sands Project in Australia, aiming to supply up to 14,000 tonnes of rare earth element concentrate per year for processing in Utah by 2026. The company is investing $122 million along with share issuances to secure a 49% stake in the venture, with further expansion plans for their mill’s capacity by 2027. Energy Fuels’ uranium production in the U.S. continues to grow, targeting up to 5 million pounds annually in the coming years, unaffected by the new REE initiatives.
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