Energy Fuels Inc., the largest domestic uranium producer in the United States, reported that it remains on track to meet its 2026 full-year production guidance, having produced approximately 1.6 million pounds of finished U3O8 between January and June. The figure falls within the company's stated 2026 range of 1.5 million to 2.5 million pounds, according to a mid-year update from the company.
The Colorado-based producer processes uranium at its White Mesa Mill in Utah, the only fully licensed and operating conventional uranium mill in the country. Energy Fuels said processing costs at the mill are running at historic lows, between $9 and $12 per pound of U3O8, a level the company has pointed to as a competitive advantage as US utilities look to diversify uranium supply away from foreign sources.
The production update comes as the broader uranium market has drawn renewed investor attention. Long-term uranium prices have climbed toward $96 per pound in recent months amid tightening global supply, though the rally has been driven more by scarcity among producers than by a surge in fresh utility contracting. US utilities continue to work through older supply contracts signed at lower prices, a dynamic that has kept many uranium-linked equities from tracking the commodity's gains as closely as some investors expected.
Beyond uranium, Energy Fuels has also been expanding its rare earth elements business. In late August, the company said heavy rare earth oxides produced at White Mesa Mill had qualified for use by the largest permanent magnet manufacturer in Japan, a step the company described as part of its strategy to build a domestic critical minerals supply chain alongside its core uranium operations.
Source: Energy Fuels Inc. - https://investors.energyfuels.com/2026-06-11-Energy-Fuels-Expects-to-Achieve-Full-Year-Uranium-Production-Guidance-by-Mid-Year