Energy Fuels Begins $104 Million Rare Earth Expansion in Utah

Energy Fuels Holdings Corp. began construction on July 29, 2026, for a $104 million commercial-scale expansion at its White Mesa Mill in Utah. The project focuses on producing heavy rare earth oxides, including terbium, dysprosium, samarium, europium, and gadolinium, which are critical for magnets used in robotics, electric vehicles, and advanced weapons systems.

Production of terbium and dysprosium is scheduled for completion by the end of 2027, with the remaining metals coming online by 2028. To fuel the operation, the mill will process monazite from third-party feedstocks and the company's Donald Project joint venture in Australia.

The initiative is supported by a $725 million conditional loan commitment from the United States government. This expansion aligns with broader Trump administration and Pentagon strategies to onshore critical mineral supply chains and diminish China's market dominance over these materials.