Denver-based Energy Fuels Inc., a leading US producer of uranium and rare earth elements, reported second-quarter 2026 financial results on August 5, disclosing that it mined 315,000 pounds of contained U3O8 at its Pinyon Plain, La Sal and Pandora mines during the quarter, bringing first-half production to 740,000 pounds. The company produced 865,000 pounds of finished U3O8 in the quarter and 1.7 million pounds for the first half of the year, tracking within its full-year guidance range of 1.5 million to 2.5 million pounds.
Total mining and milling costs for high-grade Pinyon Plain ore came in at approximately $23 per pound, the low end of the company's projected range and, according to the company, among the lowest production costs for mined uranium anywhere in the world. Uranium sold during the quarter generated $25 million in revenue at a weighted average realized price of $80.48 per pound, while spot-market U3O8 was last valued at $86.50 per pound as of July 31.
Energy Fuels also continued expanding beyond uranium, advancing planned acquisitions of Vacuumschmelze GmbH and Australian Strategic Materials to build an integrated rare earth magnet supply chain. The Vacuumschmelze deal includes a magnet production facility in Sumter, South Carolina, with capacity for 2,000 metric tons of permanent magnets annually, scalable to 12,000 tons. The company ended the quarter with nearly $1 billion in working capital even as it posted a net loss of $33.6 million, driven largely by acquisition-related transaction costs.
Source: PR Newswire - https://www.prnewswire.com/news-releases/energy-fuels-announces-q2-2026-results-302844191.html