Energy Fuels Signs MOU With Madagascar for Toliara Project; Shares Fall

MT Newswires Live

2024/12/06

Energy Fuels (UUUU) said Thursday it has signed a Memorandum of Understanding with Madagascar's government outlining terms for its Toliara titanium, zirconium, and rare earth elements project.

Under the MOU, Energy Fuels will pay a 5% royalty on mining products and invest $80 million in development and social funding after project certification.

Energy Fuels said the payments are unlikely to have a significant effect on the project's economics.

Shares of Energy Fuels fell 3% in recent trading.

Price: 6.65, Change: -0.24, Percent Change: -3.42

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