By Adriano Marchese

Energy Fuels expects to hit its full-year uranium production target by mid-2026, putting the company in a position to potentially surpass its guidance.

The uranium producer said Thursday it expects to reach output of about 1.6 million pounds of uranium by the end of June, which falls within its guided target of between 1.5 million to 2.5 million pounds for the year.

The production comes from Energy Fuels' fully-owned White Mesa Mill in Utah, which processes uranium from several conventional projects in Western U.S.

By six months the company expects to have been producing an average of about 265,000 pounds of the compound U3O8, with is triuranium oxide known as yellowcake.

At the end of the six months, once the processing campaign is complete, Energy Fuels plans will work to rebuild its ore stockpile, and then resume processing at the Mill in the fourth quarter if production and market conditions are appropriate.

The company said there may be potential to process rare earth elements, coinciding with the planned pause in uranium ore processing at the White Mesa Mill after June, as Energy Fuels begins phase 1 modifications at the mill to expand its rare earth circuits to handle additional materials, including mixed rare earth carbonates and certain heavy rare earth elements.

In the meantime, the company said permitting for the planned phase 1 modifications and phase 2 rare earth expansion in Utah is proceeding on schedule. Phase 1 is expected to become operational in late 2027 to early 2028.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

June 11, 2026 07:13 ET (11:13 GMT)

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