UUUU•UUUU•Energy Fuels secured a conditional $725 million, 20-year loan commitment from the U.S. Office of Strategic Capital to expand rare earth and critical materials processing at its White Mesa Mill and fund a new U.S. rare earth metals and alloy facility. The financing requires customary closing conditions and due diligence.
Energy Fuels has received a conditional commitment for up to $725 million of senior-secured debt from the U.S. Office of Strategic Capital. The 20-year loan will support planned expansions of critical minerals processing capacity, subject to due diligence, final agreements and customary closing conditions.
Proceeds will enhance the White Mesa Mill in Utah by increasing rare earth element and critical materials throughput and will finance construction of a new U.S. rare earth metals and alloy production facility. These developments aim to secure domestic processing capabilities.
The financing aligns with Energy Fuels’ vertically integrated strategy, linking its upstream mineral assets with in-country processing to reduce reliance on foreign suppliers. A pending acquisition of Australian Strategic Materials, subject to approvals, would add rare earth metal and alloy expertise in South Korea to its operations.
Definitive documentation, completion of due diligence and regulatory approvals are expected in the coming months before loan proceeds are disbursed. Funds will be allocated to project development, processing capacity expansion, supply chain integration and working capital.
