Madagascar Lifts Suspension on Toliara Project

The Madagascar government has lifted a suspension on the Toliara critical minerals project, allowing U.S.-based Energy Fuels to resume development activities. This decision follows Energy Fuels' acquisition of Base Resources and aims to advance the extraction of valuable minerals like rare earth elements, titanium, and zirconium. Energy Fuels plans to re-establish community programs, enhance mine planning and engineering, and seeks a financial investment decision by early 2026. The Toliara project is projected to produce significant quantities of critical minerals over its 38-year lifespan, which could bolster Madagascar's economy and contribute to the global clean energy transition. The company views the Toliara project as a potentially transformative venture for both Madagascar and the U.S. market, emphasizing sustainable mining practices.