In a statement, it said the BFS "confirms the expansion's exceptional economics, competitive cost structure and ability to supply a significant share of U.S. rare earth demand".

Among highlights, EFR cited planned 6,000 tpa NdPr, 240 tpa Dysprosium, and 66 tpa terbium capability with its first quartile cost position.

"Energy Fuels is on the cusp of solving America's rare earth processing 'bottleneck'," said CEO Mark S. Chalmers. "Today's BFS shows that Energy Fuels is in the process of restoring a U.S. rare earth supply chain that is world-competitive. With an estimated capital cost of $410 million for the Phase 2 Circuit and an estimated all-in production cost of $29.39/kg NdPr equivalent produced from our Vara Mada project, we believe our REE oxide production ranks among the lowest capital and operating costs globally."

Shares in EFR jumped 7.5% in Canada trade yesterday.

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