Energy Fuels
Compare Energy Fuels…US uranium producer and processor at White Mesa Mill (Utah). Also pursuing rare earth element processing as a second revenue line.
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Energy FuelsUS uranium producer and processor at White Mesa Mill (Utah). Also pursuing rare earth element processing as a second revenue line.
| Month (2025) | Ore Mined (tons) | Finished U3O8 (lbs) | Avg Grade (% eU3O8) |
|---|---|---|---|
| April 2025 | 4,604 | 151,400 | 1.64 |
| May 2025 | 6,043 | 258,745 | 2.14 |
| June 2025 | not disclosed | 230,661 | 3.51 |
| Q2 2025 total (Apr to Jun) | not disclosed | 638,700 | 2.23 |
| Q3 2025 (Jul to Sep, Pinyon + La Sal) | not disclosed | 465,000 | 1.27 |
| Project (country) | Energy Fuels stake | Target monazite (tpa) | Status / first production target |
|---|---|---|---|
| Donald (Australia) | Earn-in up to 49% (JV with Astron) | 7,000 to 8,000 | Major approvals received; FID targeted late 2025; first monazite as early as 2026 |
| Toliara / Vara Mada (Madagascar) | 100% | ~24,000 | Updated FS Jan 2026 (~$1.8B NPV at 10% discount rate); awaiting Madagascar govt approvals; targeted as early as 2028 |
| Bahia (Brazil) | 100% | exploration stage | Heavy mineral sands exploration / permitting; targeted online ~2029 |
| Combined target (company aspiration) | mixed | RUMORED: 40,000+ (unconfirmed in FS) | ~5,381 tonnes contained NdPr oxide per year at full ramp. Note: Toliara FS shows 24,000 tpa and Donald Phase 1 targets 7,000 to 8,000 tpa; Bahia has no disclosed tonnage. The 40,000+ figure is a company portfolio aspiration, not a figure from any single FS. |
| Project (state) | Type | Stage | Notes |
|---|---|---|---|
| Pinyon Plain (Arizona) | Conventional | Producing (flagship) | Highest-grade U.S. uranium mined in ~30 years; ~1.57M lbs P&P reserve, grades exceeding study estimates |
| La Sal Complex (Utah) | Conventional | Producing | Uranium/vanadium; ~4.3M lbs resource (inferred); part of 2025 mined output |
| Pandora (Utah) | Conventional | Producing | La Sal district mine feeding White Mesa |
| Whirlwind (Colorado) | Conventional | Near-term restart | Being prepared to lift output toward 2M+ lbs/yr |
| Nichols Ranch (Wyoming) | ISR | On standby / restart | In-situ recovery asset; restart optionality |
| Roca Honda (New Mexico) | Conventional | Permitting / development | Part of the large long-life resource pipeline toward ~5M lbs/yr |
| Sheep Mountain (Wyoming) | Conventional | Permitting / development | Large resource; advances long-term production capacity |
| Bullfrog (Utah) | Conventional | Permitting / development | Roca Honda, Sheep Mountain, Bullfrog hold ~70M+ lbs combined resource |
2023-2026 (guidance midpoint)
| Period | U3O8 Sold (lbs) | Realized Price ($/lb) | Channel |
|---|---|---|---|
| Q2 2025 | 50,000 | 77 | Spot |
| Q3 2025 | 240,000 | 72.38 | Spot + contract |
| Q4 2025 | 360,000 | 74.93 | Spot + contract |
| FY2025 spot total | 350,000 | 76.9 | Spot |
| FY2025 contract total | 300,000 | 71.06 | Long-term contract |
| FY2025 all-in | 650,000 | 74.21 | Blended ($48.2M revenue) |
| 2026 contracted deliveries (guidance) | 1,500,000 to 2,000,000 | contract + spot | Guidance, not actual |
| Rare earth oxide | Phase 1 capacity (tpa) | Phase 2 capacity (tpa) | 2025 production status |
|---|---|---|---|
| NdPr oxide (magnet feedstock) | ~1,000 | 6,000+ | Commercial production achieved 2024 |
| Dysprosium oxide (heavy REE) | pilot | ~240 | First Dy at 99.9% purity, ~29 kg piloted |
| Terbium oxide (heavy REE) | pilot | ~66 | Production commenced Q4 2025 |
2016-Q3-2017-Q3
2015-2025
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US uranium producer and processor at White Mesa Mill (Utah). Also pursuing rare earth element processing as a second revenue line.