Energy Fuels Produces First High-Purity Dysprosium Oxide in US

Energy Fuels has achieved a significant milestone by producing its first kilogram of high-purity dysprosium oxide at 99.9% purity at its White Mesa Mill in Utah, marking a key step in establishing a domestic supply chain for heavy rare earth elements in the U.S. The pilot-scale production, running at about two kilograms per week from monazite mined in Florida and Georgia, is set to continue until approximately 15 kilograms are produced before shifting focus to terbium oxide with first samples expected by Q4 2025. The company plans to install commercial-scale separation capacity for dysprosium, terbium, and other heavy rare earth oxides by late 2026, responding to strong interest from magnet manufacturers and OEMs. This development supports Energy Fuels’ strategy to diversify its portfolio and reduce reliance on Chinese supply chains for critical minerals vital to electric vehicles, wind turbines, and defense technologies. Analysts offer mixed ratings, with some projecting substantial stock upside potential based on the company's growth prospects, while others highlight challenges such as persistent losses and negative cash flows. Overall, Energy Fuels' advancements position it as a leading U.S. producer in rare earth elements and uranium concentrate, with promising implications for domestic critical mineral supply security.