12:09 PM EDT, 07/17/2025 (MT Newswires) -- (Updates shares.)

Energy Fuels ( UUUU ) said Thursday it started producing heavy rare-earth element oxides at its White Mesa mill in Utah at a pilot scale.

The company expects to complete production of its first kilogram of dysprosium oxide within the next 30 days.

Pilot production of dysprosium will continue until the end of September, at which time it expects to have produced approximately 15 kilograms of dysprosium. These are enough residuals to feed its terbium circuit starting in October, the company said.

Energy Fuels ( UUUU ) expects to have produced one kilogram of terbium on a pilot scale by the end of November. If progress continues as planned, the company expects to start producing samarium oxide on a pilot scale in January 2026.

Energy Fuels ( UUUU ) expects to produce dysprosium, terbium and samarium on a commercial scale at the mill as early as the fourth quarter of 2026. Commercial production is anticipated to begin as early as the fourth quarter of 2027 at the Donald project in Australia.

"Energy Fuels ( UUUU ) is in a unique position to produce the heavy rare earth oxides needed by other U.S. producers to make rare earth metals, alloys and magnets", said chief executive Mark Chalmers.

The company's shares were last seen up $0.78 to $12.06 on the Toronto Stock Exchange.

Price: 12.06, Change: +0.78, Percent Change: +6.91