Energy Fuels Secures $725 Million, 20-Year U.S. Loan for Rare Earth Expansion
UUUU•Energy Fuels secured a conditional commitment for up to $725 million in senior-secured, 20-year U.S. government debt to expand its White Mesa Mill and fund a planned rare earth metals and alloy production facility. The financing expands processing capacity for rare earth elements and strengthens U.S. critical minerals independence.
1. $725 Million Senior-Secured Loan
Energy Fuels secured a conditional commitment for up to $725 million in senior-secured debt from the U.S. Office of Strategic Capital under a 20-year facility, subject to due diligence, documentation and regulatory approvals.
2. Funding Allocation and Mill Expansion
Proceeds will expand processing infrastructure at the White Mesa Mill in Utah and finance a new rare earth metals and alloy production facility to increase domestic refining capacity.
3. Strategic Value for U.S. Supply Chain
The financing addresses national goals to reduce dependence on foreign rare earth sources and enhances processing capacity for critical minerals essential to defense, electric vehicles and renewable energy technologies.
4. Positioning for Downstream Integration
The capital bolsters Energy Fuels’ plan to acquire Australian Strategic Materials, further integrating rare earth production and alloy manufacturing to strengthen its vertical supply chain.
