Energy Fuels Faces Delays in Rare Earth Projects but Sees Strong Market Interest in Terbium Production

Published: May 8, 2026 17:32

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US rare earth producer Energy Fuels stated that negotiations on the government stability agreement for its Vera Mada rare earth project in Madagascar slowed down due to management changes in the country, and the financial investment decision originally scheduled before the end of 2029 may be delayed. Meanwhile, the Donald project in Australia also faces delays due to the complexity of coordinating offtake agreements. Nevertheless, the company's first batch of terbium products has attracted significant market interest. Currently, approximately 1 kg of terbium is produced per week, and the company plans to increase production of heavy rare earths such as dysprosium, samarium, and gadolinium based on market demand.

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