- Energy Fuels is the largest uranium producer in the US and has received a Request for Proposals from the US Department of Energy (DOE).
- Energy Fuels is currently producing REE carbonate – a product more advanced than any other US company, with a total production of approximately 205 tonnes of mixed rare earth element carbonate, containing approximately 95 tonnes of total rare earth oxides (TREO) during the first half of 2022.
- The company is also quickly advancing toward full-integration of US-centric rare earth supply chain. White Mesa Mill in Utah is the only conventional uranium and vanadium mill operating in the US. It leverages an impressive annual capacity of over 8 million pounds of uranium.
- The Nichols Ranch ISR project is an existing ISR facility in Wyoming, licensed to produce two million pounds of uranium per annum.
- The Alta Mesa ISR project is a significant existing ISR production on standby in Texas with 1.5 million pounds of annual capacity.
- The company operates significant future scalability potential with three large-scale uranium projects containing over 50 million pounds of combined measured and indicated resources at the Sheep Mountain (fully-permitted), Roca Honda (advanced-stage permitting) and Bullfrog projects or Henry Mountains Complex (pre-permitting stage).
- The company executes its alliance with RadTran to evaluate the recovery of thorium and radium from its existing rare earth carbonate and uranium process streams for use in the production of medical isotopes for emerging targeted alpha therapy cancer therapeutics.
- Energy Fuels entered into three long-term uranium sales contracts with US nuclear utilities for a total of 3.0 million pounds with deliveries to occur between 2023 - 2030.
- The company acquired 17 mineral concessions totaling 15,089.71 hectares in Bahia, Brazil. The Bahia property is a potentially low-cost, long-term source of “elements” which can produce 3,000 - 10,000 tonnes of monazite sand concentrate per year (1,500 - 5,000 tonnes TREO).
Uranium demonstrated that despite disruptions and even a global pandemic, it is still one of the best-performing commodities in the resource industry, according to leading strategists. With the current demand for the valuable mineral outreaching present supply, the world is seeing a bullish uranium market like never before.
The biggest uranium producers in Canada, Australia, Kazakhstan, and Namibia saw mine closures and production cuts in 2020, leading to a 13-million-pound decline but significantly higher prices for the mineral. With mining operations slowly coming back online, US and Western-centric uranium companies leverage a chance to get a head start on the international competition and bullish market conditions that are hard to ignore.
Energy Fuels is the only uranium producer with both conventional production and In Situ Recovery (ISR) in the US. Its standalone White Mesa Mill is the only conventional uranium mill in the country and leverages early-mover advantages in current production, scalability, capacity and regional dominance. In 2019, the White Mesa Mill became the number one producer of vanadium in the US, with production levels reaching 1.9 million pounds at 99.7 percent high-purity vanadium. And, in 2021, the White Mesa Mill began commercial production of an intermediate rare earth product at a stage more advanced than any other US company.