U.S. Signs $725 Million Energy Fuels Loan to Expand Rare Earth Processing
Updated
Updated · Reuters · Jun 18
U.S. Signs $725 Million Energy Fuels Loan to Expand Rare Earth Processing
3 articles · Updated · Reuters · Jun 18
Summary
$725 million in conditional U.S. financing will help Energy Fuels expand from uranium into rare earth separation and metallization, a key step in making permanent magnets.
The loan is aimed at cutting U.S. dependence on China by boosting domestic output of rare earth oxides that feed magnet plants and other defense and industrial supply chains.
Energy Fuels shares jumped 9.25% in New York trading after the announcement, though the company still must clear financial, legal and technical due-diligence requirements before drawing the funds.
The deal fits a broader push by the U.S. and other countries to invest in rare earth mining and processing after China curbed exports of rare earth magnets used in EVs, wind turbines and MRI machines.
As America builds its rare earth supply chain, how might China strategically disrupt the market to undermine these new multi-billion dollar investments?
With billions invested, can the U.S. rebuild decades of lost expertise in rare earth processing before its critical 2027 defense deadline?
U.S. Commits $725 Million to Energy Fuels for Rare Earth Independence: Inside the White Mesa Mill Expansion
Overview
On June 18, 2026, the U.S. Department of War's Office of Strategic Capital announced a conditional commitment of up to $725 million in senior-secured debt to Energy Fuels Inc. This major investment aims to accelerate the expansion of rare earth element processing in the United States, focusing on Energy Fuels' White Mesa Mill in Utah and a new metals and alloy facility. These efforts are designed to strengthen U.S. supply chains for critical materials, especially permanent magnets, which are vital for national security and economic competitiveness. The financing is still subject to due diligence before it is finalized.