Energy Fuels Inc. (NYSE American: UUUU) announced that its terbium oxide has passed qualification requirements set by a Japan-based rare earth permanent magnet manufacturer, according to a company press release dated Aug. 19, 2026.

The unnamed Japanese manufacturer confirmed that terbium oxide produced at Energy Fuels' White Mesa Mill in Utah meets its specifications and is approved for commercial use in rare earth permanent magnet production with no further testing required.

Terbium is used to improve heat resistance and performance in neodymium-iron-boron permanent magnets. According to Benchmark Mineral Intelligence, terbium oxide currently trades at approximately $5.5 million per tonne (CIF Europe).

Energy Fuels previously announced qualifications of its neodymium-praseodymium (NdPr) and dysprosium (Dy) oxides for permanent magnet manufacturing by the same Japan-based company.

The company said it expects to become a vertically integrated producer from mining through permanent magnet production in the U.S. and Europe, pending the closing of its pending acquisitions of Australian Strategic Materials and Vacuumschmelze. The NdPr, terbium, and dysprosium oxides produced at the White Mesa Mill are described as key components of that planned supply chain.