Energy Fuels Inc. (NYSE American: UUUU) has developed the technology needed to commercially produce six of the seven rare earth oxides that are now subject to Chinese export controls. The company aims to scale up production from its White Mesa Mill in Utah, coinciding with President Trump’s Section 232 investigation into imports of processed critical minerals.
The rare earth oxides Energy Fuels intends to produce include samarium, gadolinium, dysprosium, terbium, lutetium and yttrium. The White Mesa Mill currently has the capacity to process monazite ore concentrates into separated neodymium-praseodymium (NdPr) oxide. The Lakewood company believes it can quickly expand its capabilities with government support or favorable market conditions.
Energy Fuels has been developing production capabilities for “light,” “mid” and “heavy” rare earth elements since 2020. Following successful commercial NdPr separation in 2024, the company has gained valuable data and experience in separating rare earth oxides, including those subject to the new export controls. It expects to produce the six oxides within a year with government assistance.
In addition to the recent developments, President Trump signed an Executive Order on April 15, 2025, initiating a Section 232 investigation regarding the national security implications of importing processed critical minerals. Mark S. Chalmers, president and CEO of Energy Fuels, said, “Energy Fuels is uniquely positioned to quickly help fill many of the gaps President Trump identifies in his Critical Mineral Executive Order.” He highlighted the company’s experience in producing uranium and vanadium oxides and the recent launch of commercial rare earth processing capacity.
Energy Fuels focuses on monazite, a mineral that has high concentrations of rare earth elements and is produced as a byproduct of heavy mineral sands mining. The company has purchased monazite concentrates since 2021, and in 2023 and 2024, it secured future supplies by acquiring three large heavy mineral sands mines that can provide monazite concentrates for decades.
The White Mesa Mill is currently capable of processing 10,000 metric tons of monazite and producing up to 1,000 metric tons of NdPr oxide per year. Energy Fuels plans to expand its capacity to process 60,000 metric tons of monazite annually in the coming years. While the company explores, permits, and develops new mining properties, production from these sources is expected to begin around 2028, pending necessary approvals and financing.
