Energy Fuels heavy rare earth oxides enter U.S. pilot production

Energy Fuels

Pilot ramp and technology path

Energy Fuels heavy rare earth oxides entered pilot production at the White Mesa Mill. The company now produces dysprosium oxide at a minimum 99.5% purity. Energy Fuels heavy rare earth oxides make it the only domestic producer from mined ores. The pilot will complete its first kilogram of dysprosium this quarter. Production will continue through September, generating residues for the terbium circuit. Terbium oxide output of one kilogram is targeted by late November. Energy Fuels plans samarium oxide runs starting January. As a result, Energy Fuels heavy rare earth oxides will span Dy, Tb, and Sm.

Feedstock strategy and Phase 1 commercialization

Commercial output could start in late 2026 at the Phase 1 separation circuit. Feed would include existing concentrates and Australia’s Donald project from 2027. Donald contains monazite and xenotime, strengthening heavy rare earth recoveries. High xenotime content enhances dysprosium and terbium yields. At 7,100 t/yr concentrate, Donald could reshape U.S. supply. Projected yields are 129 t Sm, 16 t Tb, and 92 t Dy. Those volumes cover 250% of Sm demand and 23% of Tb demand. They would also meet 34% of domestic Dy demand for decades. Energy Fuels also advances Toliara in Madagascar, pending approvals. The plan targets first production by 2028. Brazil’s Bahia project aims for a 2029 start-up after permitting. Together, these assets diversify light and heavy REE supply.

The Metalnomist Commentary

This pilot establishes a credible U.S. pathway for high-value HREEs used in magnets and defense. Execution now hinges on steady feedstock, process reliability, and long-term offtakes to de-risk commercial scale-up. If tariffs and permitting stay manageable, White Mesa could anchor a durable domestic HREE chain.