Energy Fuels (UUUU) said Wednesday it has started construction on an expansion of its White Mesa Mill facility in Utah for commercial-scale production of heavy rare earth oxides.
The materials will be used by Energy Fuels to produce rare earth metals, alloys and magnets for automotive, robotics, data center, and energy and defense clients, the company said.
The expansion project will have a capital expenditure of about $104 million, the company said, adding the amount is expected to be backed in large part by government grants and loans.
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