Energy Fuels has secured commercial qualification for its terbium oxide from a major Japan-based permanent magnet manufacturer, marking a technical milestone for the company’s heavy rare earth processing capabilities.

The Japan-based manufacturer confirmed that terbium oxide produced at the White Mesa Mill in Utah meets its commercial specifications and is approved for use in rare earth permanent magnet production without requiring further validation or qualification.

Terbium serves as a critical input that improves the heat resistance and performance of high-strength neodymium-iron-boron permanent magnets used in advanced technologies. Reflecting its scarcity and limited Western production, terbium oxide commands a market price of approximately $5.5 million per tonne, according to Benchmark Mineral Intelligence.

Energy Fuels previously produced its first kilogram of terbium oxide at pilot scale in March 2026. To expand this output, the company is advancing construction on an expansion of the White Mesa Mill to enable large-scale heavy rare earth oxide production.

Upon closing its pending acquisitions of Australian Strategic Materials and Vacuumschmelze, Energy Fuels expects to become a leading vertically integrated mine-to-rare-earth-permanent-magnet producer in the United States and Europe, utilizing the terbium, neodymium-praseodymium, and dysprosium oxides produced at the Utah mill as key supply chain components.

“This latest qualification of Energy Fuels' heavy rare earth oxides marks another significant milestone in establishing a secure, diversified supply chain for critical rare earth materials,” said Ross Bhappu, President and CEO of Energy Fuels. “Successful qualification of our terbium oxide by one of the largest Japanese rare earth permanent magnet manufacturers represents one of the strongest endorsements of our product quality and industry leading rare earth processing capabilities to supply the heavy rare earth materials needed for automobiles, advanced electronics, robotics, aerospace, defense systems, and other advanced technologies.”

President and CEO Ross Bhappu

Read the full announcement: "Heavy" Rare Earths Produced by Energy Fuels Qualified for Use by Largest Permanent Magnet Manufacturer in Japan