Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a U.S.-based uranium and rare earth elements producer, announced the appointment of Jeffrey Olsen to its board of directors, where he will also serve as a financial expert on the Audit Committee. The move adds decades of financial, commercial and operational leadership experience in the global mining industry to the company’s governance as it pursues growth in critical materials.
Olsen served as president and CEO of Boart Longyear Group from 2016 to 2024 and as its chief financial officer from 2014 to 2016. During his tenure, he led restructuring initiatives, strengthened the company’s capital structure and advanced its drilling technology and orebody intelligence capabilities. Before joining Boart Longyear, Olsen spent 18 years at Rio Tinto in senior financial and commercial positions, including chief commercial officer of Rio Tinto Iron & Titanium and chief financial officer roles at Rio Tinto Minerals and Rio Tinto Borax. He currently serves as a nonexecutive director of Dyno Nobel Ltd. and Savage Companies, where he also chairs the Audit Committee.
Energy Fuels President and CEO Ross Bhappu said Olsen’s mining industry leadership and financial expertise will support the company’s strategy and continued expansion of its critical materials businesses. The appointment comes as Energy Fuels positions itself as 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, Energy Fuels has been the top U.S. producer of natural uranium concentrate, supplying nuclear utilities. The company owns the only fully licensed conventional uranium mill operating in the U.S. – the White Mesa Mill in Utah – where it also produces REE products and evaluates medical isotope recovery for emerging cancer therapies. Additionally, Energy Fuels is developing three heavy mineral sands/rare earths projects: the Vara Mada Project in Madagascar, Bahia Project in Brazil, and Donald Project in Australia through a joint venture with Astron Limited. Based in Lakewood, Colorado, its shares trade on the NYSE American (“UUUU”) and TSX (“EFR”).
Olsen’s appointment is significant for Energy Fuels as it continues to expand its critical materials businesses, which are essential for clean energy, defense, and advanced technologies. His experience in restructuring and capital markets could prove valuable as the company advances its rare earth and heavy mineral sands projects globally. The full press release can be viewed at https://ibn.fm/KQ8rj. For ongoing updates, the company’s newsroom is available at http://ibn.fm/UUUU.
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