Mentioned:
The rare earth business is exploding globally. Which is exactly why Energy Fuels is raising half a billion dollars for expansion.
What’s happening:
- Energy Fuels (NYSE: UUUU) is raising $550M USD through a new convertible note financing
Why it matters:
- This is the single largest capital raise that Energy Fuels has done since the company was first formed
Going deeper:
- Energy Fuels has publicly stated they plan to use the new growth capital for expanding their rare earth separation facility at their White Mesa Mill located in Utah and also funding their rare earth Donald project in Australia in partnership with Astron Corporation (ASX: ATR)
- Energy Fuels has been rapidly making moves to expand their rare earth operations lately, including producing their first kilogram of dysprosium oxide at pilot scale and striking a partnership with Vulcan Elements to supply them with rare earth oxides for magnet production
