Donald Rare Earth and Mineral Sands Project Achieves Major Government Financing Milestone | $UUUU
DENVER, Oct. 26, 2026 /PRNewswire/ -- Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (ASX: EF2), a leading U.S.-based producer of rare earth elements ("REE"), uranium, and other critical materials, today announced that Export Finance Australia ("EFA") and the National Reconstruction Fund Corporation ("NRFC"), two major Australian Government financing institutions, have together conditionally approved a commitment for up to A$180 million (US$126 million), as part of a proposed A$200 million senior project finance debt facility, to support construction of Phase 1 of the Donald Rare Earth and Mineral Sands Project in Australia (the "Donald Project").
Completion of the EFA and NRFC financings is subject to entry of definitive documentation and project documentation, satisfactory completion of due diligence, the balance of the required debt funding provided by commercial lenders and final approvals. Financial close of the senior debt financing will be subject to satisfaction of customary conditions precedent. These conditional commitments are in addition to the conditional $725 million loan commitment Energy Fuels received in June 2026 from the U.S. Office of Strategic Capital ("OSC") for expansion of the Company's REE processing, separation, metal and alloy capacity in the U.S.
Located approximately 300 kilometers northwest of Melbourne in Victoria, Australia, the Donald Project is a fully permitted, shovel ready rare earths and heavy mineral sands ("HMS") project being developed through a joint venture ("JV") between Energy Fuels and Australia-based Astron Limited.
