HOUSTON, March 2 (Argus) - Energy Fuels, a major U.S. mineral producer, said it is expected to meet 50% of the heavy rare earth element demand in the United States.
The company's president, Ross Bapu, stated at the earnings call on February 27 that EF expects to supply rare earths from its Donald project in Australia to its White Mesa Mill plant in Utah between the end of 2027 and the beginning of 2028.
Chief Executive Officer Mark Chalmers said that the first phase of the Donald project will be equivalent to about 25% of the U.S. heavy rare earth demand, and the second phase could be as high as 50%.
The Donald project is ready and an investment decision could be made as early as the end of March.
The company said that the project will be able to provide up to 1,531 tons/year of praseodymium-nickel oxide, 168 tons/year of dysprosium, and 29 tons/year of terbium.
White Mesa of Energy Fuels will have a production capacity of 288 tons/year of dysprosium and 80 tons/year of terbium after the second phase expansion planned for 2028.
After completing the acquisition of Australian Strategic Materials Company (ASM), the company's multiple projects and its value chain integration from mining to alloying will become a key differentiating factor.
In addition to the Donald project, the company's projects also include the Vera Mada project in Madagascar and the Bahia project in Brazil.
The Dubbo project of ASM in Australia can further supplement the supply channels of rare earths. Energy Fuels announced in January this year that it would acquire ASM for $299 million and plans to complete the transaction in June.
The company's loss last year expanded from $48 million in 2024 to $86 million.
