On November 28, 2024, the Madagascar Council of Ministers officially lifted the suspension on Energy Fuels Inc.'s 100%-owned Toliara critical minerals project. This suspension had been in place since November 2019, halting development activities at the project.
The lifting of the suspension allows Energy Fuels to recommence development and technical activities on the ground, including re-establishing community programs and advancing towards a positive Financial Investment Decision (FID). The company expects to make an FID in early 2026.
The Toliara Project is considered a generational mining project with the potential to provide large quantities of critical minerals, including rare earth elements, titanium, and zirconium, for many decades. Energy Fuels plans to process the rare earth elements from Toliara at its White Mesa Mill in the U.S.
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