Energy Fuels Inc. announced on June 25, 2025, that the Government of Victoria, Australia, has approved the Work Plan for the construction and operation of the Donald Rare Earth and Mineral Sand Project. This marks the final major regulatory approval required for the project.
This approval enables the finalization of critical activities, including arrangements for debt and equity financing, before a Final Investment Decision (FID) can be made. Energy Fuels has the right to invest AU$183 million (US$119 million) plus US$17.5 million in common shares to earn up to a 49% interest in the joint venture with Astron Corporation Limited.
The Donald Project is expected to provide Energy Fuels with a low-cost and long-term supply of monazite- and xenotime-bearing rare earth element mineral concentrate. Phase 1 is projected to supply 7,000-8,000 metric tons of concentrate per year, commencing as early as 2026, for processing at the White Mesa Mill in Utah.
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