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UUUU Produces Dysprosium: Can It Redefine the U.S. REE Supply Chain?
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Key Takeaways
Energy Fuels produced its first kilogram of dysprosium oxide at White Mesa Mill in Utah.
The Dy oxide achieved 99.9% purity, surpassing the 99.5% commercial benchmark.
UUUU plans commercial-scale Dy, Tb and other REE output by the fourth quarter of 2026.
Energy Fuels (UUUU - Free Report) has reached a significant milestone by producing the first kilogram of dysprosium (Dy) oxide at pilot scale from its White Mesa Mill in Utah. The company exceeded expectations by attaining 99.9% purity, above the 99.5% commercial benchmarks. Per UUU, the quantity and purity of its Dy oxide production is unmatched in the United States at this time, underscoring its leading role in building a rare earth oxide supply chain independent of China.
The mill will currently produce Dy oxide at a rate of about two kilograms per week, using monazite feedstock mined in Florida and Georgia. This has sparked interest among magnet manufacturers and original equipment manufacturers to obtain these samples to accelerate their validation processes.
Energy Fuels plans to continue pilot-scale production until it produces approximately 15 kilograms of Dy oxide. Once this is achieved, Energy Fuels intends to produce high-purity terbium (Tb) oxide and is targeting the fourth quarter to deliver the first samples of Tb oxide for end-user validation.
Encouraged by the success of this "heavy" REE pilot project, UUUU plans to construct and commission commercial-scale Dy, Tb and other "heavy" REE separation capacity at its White Mesa Mill, which could start producing in the fourth quarter of 2026.
Last year, Energy Fuels completed and commissioned its commercial-scale "light" rare earth oxide circuit at the Mill with a successful run of 'on-spec' neodymium-praseodymium (NdPr) oxide. The material has been validated by magnet makers and is set to be used in EVs and hybrid vehicles across the United States, Europe and Asia this year.
Energy Fuels’ Donald Project in Australia could start production by the end of 2027. It is one of the richest deposits of HREEs in the world and could complement UUUU’s domestic operations. Also, its Toliara Project in Madagascar and the Bahia Project in Brazil contain significant quantities of light and heavy REE oxides, which can be supplied to U.S. and European manufacturers.
Recently, its peer, MP Materials (MP - Free Report) , entered into a long-term agreement to supply Apple (AAPL - Free Report) with rare earth magnets manufactured in the United States from fully recycled materials. Per the deal, MP Materials will supply Apple with magnets produced at Independence, its Fort Worth, TX, facility, using recycled rare earth feedstock processed at its Mountain Pass site in California.
The feedstock will be sourced from post-industrial and end-of-life magnets, marking a major milestone in both Apple and MP Material’s long-standing efforts to create sustainable, domestic supply chains.
UUUU’s Price Performance, Valuation & Estimates
Energy Fuels shares have gained 66.3% so far this year compared with the industry’s 4.6% growth.
Image Source: Zacks Investment Research
UUUU is trading at a forward 12-month price/sales multiple of 20.46X, at a significant premium to the industry’s 2.68X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Energy Fuels’ 2025 loss is pegged at 33 cents per share. The bottom-line estimate for 2026 is pegged at earnings of one cent per share. Here is how the EPS estimates for 2025 and 2026 have been revised over the past 60 days.
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #3 (Hold).
Image: Bigstock
UUUU Produces Dysprosium: Can It Redefine the U.S. REE Supply Chain?
Key Takeaways
Energy Fuels (UUUU - Free Report) has reached a significant milestone by producing the first kilogram of dysprosium (Dy) oxide at pilot scale from its White Mesa Mill in Utah. The company exceeded expectations by attaining 99.9% purity, above the 99.5% commercial benchmarks. Per UUU, the quantity and purity of its Dy oxide production is unmatched in the United States at this time, underscoring its leading role in building a rare earth oxide supply chain independent of China.
The mill will currently produce Dy oxide at a rate of about two kilograms per week, using monazite feedstock mined in Florida and Georgia. This has sparked interest among magnet manufacturers and original equipment manufacturers to obtain these samples to accelerate their validation processes.
Energy Fuels plans to continue pilot-scale production until it produces approximately 15 kilograms of Dy oxide. Once this is achieved, Energy Fuels intends to produce high-purity terbium (Tb) oxide and is targeting the fourth quarter to deliver the first samples of Tb oxide for end-user validation.
Encouraged by the success of this "heavy" REE pilot project, UUUU plans to construct and commission commercial-scale Dy, Tb and other "heavy" REE separation capacity at its White Mesa Mill, which could start producing in the fourth quarter of 2026.
Last year, Energy Fuels completed and commissioned its commercial-scale "light" rare earth oxide circuit at the Mill with a successful run of 'on-spec' neodymium-praseodymium (NdPr) oxide. The material has been validated by magnet makers and is set to be used in EVs and hybrid vehicles across the United States, Europe and Asia this year.
Energy Fuels’ Donald Project in Australia could start production by the end of 2027. It is one of the richest deposits of HREEs in the world and could complement UUUU’s domestic operations. Also, its Toliara Project in Madagascar and the Bahia Project in Brazil contain significant quantities of light and heavy REE oxides, which can be supplied to U.S. and European manufacturers.
Recently, its peer, MP Materials (MP - Free Report) , entered into a long-term agreement to supply Apple (AAPL - Free Report) with rare earth magnets manufactured in the United States from fully recycled materials. Per the deal, MP Materials will supply Apple with magnets produced at Independence, its Fort Worth, TX, facility, using recycled rare earth feedstock processed at its Mountain Pass site in California.
The feedstock will be sourced from post-industrial and end-of-life magnets, marking a major milestone in both Apple and MP Material’s long-standing efforts to create sustainable, domestic supply chains.
UUUU’s Price Performance, Valuation & Estimates
Energy Fuels shares have gained 66.3% so far this year compared with the industry’s 4.6% growth.
Image Source: Zacks Investment Research
UUUU is trading at a forward 12-month price/sales multiple of 20.46X, at a significant premium to the industry’s 2.68X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Energy Fuels’ 2025 loss is pegged at 33 cents per share. The bottom-line estimate for 2026 is pegged at earnings of one cent per share. Here is how the EPS estimates for 2025 and 2026 have been revised over the past 60 days.
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.