Cameco Corporation Is the Only Uranium Play to Consider Energy Fuels (TSE:EFR) reported a second-quarter net loss of $33.6 million as transaction and development spending weighed on results, while its uranium business generated $25 million in revenue, approximately $14 million…
gross profit and a 57% gross margin. President and Chief Executive Officer Ross Bhappu said the company is pursuing a strategy to build a vertically integrated rare earth supply chain, spanning mining, processing, separation, metallization, alloy production and magnet manufacturing
The company is advancing acquisitions of Australian Strategic Materials, or ASM, and Germany-based magnet producer Vacuumschmelze, or VAC. Bhappu said Energy Fuels expects to close its ASM acquisition late in August, subject to final procedures, while the VAC transaction is expected to close in early 2027, subject to regulatory approvals. He described the planned combination as a “mine-to-magnet” platform designed to address supply-chain constraints in rare earth metals, alloys and permanent magnets.
Uranium operations and inventory During the second quarter, Energy Fuels mined 365,000 pounds of uranium and produced more than 860,000 pounds of finished U3O8. The company ended June with 2.27 million pounds of uranium inventory. Chief Financial Officer Nate Bennett said the White Mesa Mill produced about 1.7 million pounds of finished U3O8 in the first half of 2026, reaching Energy Fuels’ full-year production guidance range of 1.5 million to 2.5 million pounds ahead of schedule.