Energy Fuels Secures Final Australian Approval for Donald Rare Earth Project

Energy Fuels Inc. has achieved a significant milestone with the Government of Victoria, Australia, granting final approval for the Work Plan of the Donald Rare Earth and Mineral Sand Project. This approval represents the last major regulatory hurdle required before the company can commence construction and operation of the project, positioning Energy Fuels to become a key supplier of critical minerals to the United States market. The joint venture arrangement with Astron Corporation permits Energy Fuels to invest up to US$136.5 million for a 49% stake in the project, creating a strategic partnership that leverages Australian mineral resources with American processing capabilities.

The Donald Project is specifically designed to supply rare earth mineral concentrates to Energy Fuels' White Mesa Mill in Utah, where they will be processed into high-purity rare earth products. This development holds particular importance for the United States as it seeks to strengthen its domestic production capabilities for essential rare earth elements including neodymium-praseodymium, terbium, and dysprosium. These elements are critical components in various high-technology applications and renewable energy systems, making their secure supply chain a matter of national and economic security. The strategic importance of this project extends beyond commercial interests, addressing growing concerns about reliance on foreign sources for these technologically vital materials.

Rare earth elements like those targeted by the Donald Project are fundamental to the manufacturing of permanent magnets used in electric vehicle motors and wind turbine generators. With global demand for these clean energy technologies accelerating, securing stable supplies of rare earths has become increasingly important for both economic competitiveness and environmental sustainability goals. The project's location in Victoria, combined with Energy Fuels' existing processing infrastructure in Utah, creates an integrated supply chain that can help mitigate supply chain vulnerabilities that have concerned policymakers and industry leaders in recent years. Additional information about this development is available at https://ibn.fm/oIXet.

The approval comes at a time when Western nations are actively seeking to diversify their sources of critical minerals away from dominant suppliers. The Donald Project represents one of the few new rare earth developments outside of China that has advanced to this stage of regulatory readiness, making it particularly significant for global supply chain dynamics. The project's progression through the Australian regulatory system demonstrates the viability of developing new rare earth resources in jurisdictions with strong environmental and regulatory standards, potentially serving as a model for similar developments in other allied nations. This milestone achievement positions Energy Fuels to begin construction activities and move toward production, contributing to the diversification of global rare earth supplies that are essential for the ongoing transition to clean energy technologies.