Energy Fuels Secures $725M Financing Commitment
Energy Fuels has received a conditional $725M financing commitment from the Department of War, U.S. Office of Strategic Capital, or OSC. Under a commitment agreement that is subject to further due diligence, finalization of agreements, customary closing conditions, and approvals, the OSC would extend to Energy Fuels a $725M loan with a tenor of 20 years to support the planned expansion of the company's critical minerals processing capabilities at its White Mesa Mill in Utah as well as a planned rare earth metals and alloy facility to be constructed in the U.S. The potential financing would support infrastructure and capacity to process rare earth elements and other critical materials from the company's portfolio of projects. The company's White Mesa Mill in Utah provides Energy Fuels with a U.S.-based processing platform, while its portfolio of mineral assets and partnerships and planned rare earth metal and alloy capabilities provide a foundation for long-term growth across rare earths, uranium and critical minerals. The company intends to use proceeds from the finalized financing to support eligible project development, processing capacity, supply chain integration, working capital and other strategic priorities, consistent with the terms of the applicable financing arrangements.
