SW US CEO chat: Energy Fuels pivots to rare earths
Energy Fuels is shifting its focus from uranium to rare earths, expecting most of its earnings to come from the rare earth value chain in about five years, with uranium contributing only 10-15%. The company is receiving up to $725 million in conditional U.S. government support to expand rare earth separation at its White Mesa mill and is acquiring Australian Strategic Materials and Vacuumschmelze to build an integrated mine-to-magnet business. The strategy depends on completing these deals and meeting federal loan conditions.
Why it matters: This shift underscores the critical minerals theme, as Energy Fuels positions itself within Washington's push to secure rare earth supply chains outside China.