The Department of Defense’s Office of Strategic Capital on Thursday announced a $725 million conditional loan commitment with Energy Fuels Inc. (AMEX:UUUU) to expand domestic rare earth processing at its White Mesa Mill in Utah and fund a new rare earth metals and alloy facility in the U.S. 

UUUU stock is climbing. See the chart and price action here. 

The deal is the latest federal push to build a domestic critical minerals supply chain independent of China.

The loan remains conditional, subject to further due diligence, finalization of agreements and customary closing conditions.

Energy Fuels stock shot higher on the announcement, touching $18 before the opening bell and trading at $17.93 at the time of publication on Thursday. 

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MP Materials – MP 

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