Energy Fuels' Madagascar Project Suspension Lifted

Dow Jones11-29

By Adriano Marchese

Energy Fuels said Thursday that the Madagascar government lifted a suspension on its critical metals project in the country that had been in place for five years.

The uranium producer said the Madagascar Council of Ministers lifted the suspension of its Toliara critical minerals project, imposed in November of 2019, pending negotiation of how to move forward with the project.

The Toliara project currently is permitted for production of titanium and zirconium minerals, including ilmenite, rutile and zircon.

Chairman and Chief Executive Mark Chalmers said the company can now restart development and other technical activities on the ground, as well as mine planning and engineering.

Energy Fuels said it expects to have a financial investment decision in early 2026.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 28, 2024 12:49 ET (17:49 GMT)

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