Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) reported its second-quarter 2026 results, highlighting continued uranium production growth and significant progress in building an integrated rare earth platform. The company’s strategic initiatives, including planned acquisitions and the construction of a commercial-scale heavy rare earth processing plant, underscore its commitment to becoming a leading supplier of critical materials for the clean energy and technology sectors.
During the quarter, Energy Fuels announced the planned acquisitions of VAC and Australian Strategic Materials, which are expected to bolster its rare earth capabilities. The company also began construction of a commercial-scale heavy rare earth processing plant at its White Mesa Mill in Utah, a major step toward achieving a fully integrated mine-to-magnet supply chain. Additionally, the company continued advancing the Donald Project joint venture in Australia, further expanding its global footprint.
Financially, Energy Fuels reported revenue of $25.1 million for the quarter, with a net loss of $33.4 million largely attributed to acquisition-related costs and growth investments. The company ended the quarter with nearly $1 billion in working capital, providing a strong foundation for its expansion plans.
In terms of production, Energy Fuels mined 315,000 pounds of contained uranium oxide and produced 865,000 pounds of finished uranium oxide during the quarter. This impressive performance allowed the company to reach its full-year production guidance in the first half of 2026, while maintaining a weighted average production cost of approximately $23 per pound at its Pinyon Plain operation. Management reaffirmed 2026 uranium production guidance, demonstrating confidence in its operational efficiency.
The company’s expanding mine-to-magnet strategy is designed to supply critical materials spanning mining, rare earth processing, metallization, alloy production, and permanent magnets. These materials are essential for a wide range of applications, including automotive, robotics, data center, and defense sectors. By integrating these processes, Energy Fuels aims to reduce reliance on foreign sources and strengthen the domestic supply chain for critical minerals.
Energy Fuels is a leading U.S. critical materials company specializing in uranium, rare earth elements, heavy mineral sands, vanadium, and the development of medical isotopes. With several uranium projects in the western United States, the company has been the top U.S. producer of natural uranium concentrate, supplying nuclear utilities. The White Mesa Mill in Utah is the only fully licensed conventional uranium mill operating in the U.S., where the company also produces rare earth element (REE) products and evaluates medical isotope recovery for emerging cancer therapies.
In addition to its domestic operations, Energy Fuels is developing three heavy mineral sands/rare earth projects: the Vara Mada Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia (through a joint venture with Astron Limited). Based in Lakewood, Colorado, the company’s shares trade on the NYSE American under the ticker UUUU and on the TSX under the ticker EFR.
For more information on Energy Fuels, visit the company’s newsroom at http://ibn.fm/UUUU.
