Energy Fuels Produces ‘Heavy’ Rare Earth Metal at Utah Mill

Energy Fuels Inc. produced a so-called heavy rare earth element for the first time at its plant in Utah, advancing efforts to build a domestic supply of critical minerals used in electronics and defense technology.

The US company said Wednesday it successfully recovered its first kilogram of terbium oxide at the White Mesa Mill as part of a pilot project to scale production at the facility, which predominantly processes uranium. Shares of Energy Fuels gained as much as 9% in New York as of 9:52 a.m. local time.