Energy Fuels kicks off Utah rare-earth expansion to boost US magnet supply
Miner Energy Fuels said on Wednesday that construction has begun to expand its White Mesa Mill in Utah to enable large-scale production of heavy rare-earth oxides, for use in magnets and other critical-material applications.
"The planned expansion is designed to add the capacity to produce up to about 20 t/y of terbium, 120 t/a of dysprosium, 140 t/a of samarium, 20 t/a of europium," the company said.
Terbium and dysprosium circuits are expected to be completed by the end of 2027, with the remaining circuits due by 2028-end.
According to Energy Fuels, the project is expected to have capital expenditure of about $104-million and will be funded largely through US government loans and grants, with the equity portion drawn from working capital.
Energy Fuels earlier this year announced a conditional commitment for up to $725-million in US government financing for critical-minerals processing and a planned rare-earth metals and alloys facility.
In June, Energy Fuels said it will buy Germany's Vacuumschmelze in a $1.9-billion cash-and-stock deal, alongside its pending purchase of Australian Strategic Materials.
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