Energy Fuels Inc. (NYSE American: UUUU, TSX: EFR) has received a conditional commitment for a $725 million loan from the U.S. Office of Strategic Capital, a unit of the Department of War, to expand its rare earth elements and critical materials processing capabilities, according to a company statement dated June 18, 2026.

The proposed loan carries a 20-year tenor and remains subject to further due diligence, finalization of agreements, customary closing conditions, and approvals. If completed, proceeds would support expansion at the company's White Mesa Mill in Utah and the construction of a rare earth metals and alloy facility in the United States.

Energy Fuels said it plans to use funds for project development, processing capacity, supply chain integration, working capital, and other strategic priorities consistent with the financing terms.

The company is also pursuing the planned acquisition of Australian Strategic Materials Limited (ASX: ASM), which holds rare earth metal and alloy manufacturing expertise and facilities in South Korea. That transaction remains subject to conditions including ASM shareholder approval.

Ross Bhappu, President and Chief Executive Officer of Energy Fuels, said: "The United States government has been steadfast in its support of critical materials security, and we appreciate the OSC's financial support at this important time as we develop our vertically integrated supply chain."

Energy Fuels has engaged Goldman Sachs & Co. LLC as financial advisor and Akin Gump Strauss Hauer & Feld LLP as legal counsel for the transaction. The company said it expects to provide additional details on final terms and timing following completion of definitive documentation.