Energy Fuels (NYSE American: UUUU) (TSX: EFR) announced a Memorandum of Understanding (“MOU”) with the Government of Madagascar to advance the Toliara titanium, zirconium, and rare earth elements (“REE”) project in southwestern Madagascar. Following the lifting of a 2019 suspension, the MOU establishes terms for royalties, development funding, and community investments, including a 5% royalty on mining products and $80 million in funding post-certification. Energy Fuels committed to environmentally and socially responsible operations, with plans to update feasibility studies to reflect current economics. The Malagasy government agreed to support project permitting, maintain fiscal and legal stability, and publicly back the development. The MOU includes conditions such as certification under Madagascar’s large-scale investment regime, with the goal of achieving a positive final investment decision within 14 months.
To view the full press release, visit https://ibn.fm/1Y59L
About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based critical minerals company, focused on uranium, rare earth elements (“REEs”), heavy mineral sands (“HMS”), vanadium and medical isotopes. The company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy, and owns and operates several conventional and in siturecovery uranium projects in the western United States. Energy Fuels also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the mill, the company also produces advanced REE products and vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The company also owns the operating Kwale HMS project in Kenya, which is nearing the end of its life, and is developing three additional HMS projects, including the Toliara Project in Madagascar, the Bahia Project in Brazil and the Donald Project in Australia, in which Energy Fuels has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The company is based in Lakewood, Colorado, with its heavy-mineral sands operations managed from Perth, Australia. For more information, visit the company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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