The Pentagon has committed $725 million in conditional debt to Energy Fuels, extending its rare earth push from White Mesa Mill into a new U.S. separation and metallization line.
The 20-year facility is still subject to due diligence, final documentation, closing conditions and approvals. If completed, it will fund capacity tied to critical minerals processing, with White Mesa as the operating base and a new domestic metals and alloy plant as the next step.
The move deepens the mine-to-magnet buildout and gives the sector another federal-backed channel for U.S. rare earth supply.