Energy Fuels Inc. (NYSE: UUUU) expects to produce approximately 1.6 million pounds of finished uranium by June 30, 2026, according to a company statement. This production level falls within the company's full-year guidance range of 1.5 to 2.5 million pounds of U3O8.

The production comes from the company's White Mesa Mill in Utah, which processes ore from its Pinyon Plain mine in Arizona and La Sal Complex in Utah. The mill has achieved average monthly production of more than 265,000 pounds of U3O8.

Energy Fuels plans to complete its current uranium ore processing campaign by the end of June 2026 to rebuild ore stockpiles. The company expects to resume ore processing in the fourth quarter of 2026, subject to ore production levels, market conditions and potential rare earth element processing.

Starting in July 2026, the company will begin modifications to existing Phase 1 rare earth element circuits at the White Mesa Mill. The modifications are designed to enable commercial production of heavy rare earth elements including samarium, europium, gadolinium, terbium and dysprosium. The Phase 1 modifications are expected to be operational in late 2027 to early 2028.

The company's conventional uranium mines are expected to produce approximately 750,000 to 850,000 pounds of contained U3O8 in ore during the first half of 2026. Mining costs at the Pinyon Plain mine continue to range between $23 and $30 per pound, while processing costs at the White Mesa Mill range between $9 and $12 per pound of U3O8.

"Energy Fuels remains focused on disciplined execution across our uranium, rare earth and mineral sand businesses," said Ross Bhappu, president and CEO.

The company also continues development work at other uranium properties, including delineation drilling at Nichols Ranch and dewatering activities at the Whirlwind uranium mine in Utah and Colorado.