Donald Rare Earth and Mineral Sands Project Achieves Major Government Financing Milestone
Energy Fuels received conditional credit approval from Export Finance Australia and the National Reconstruction Fund Corporation for up to A$180 million (US$126 million), part of a proposed A$200 million senior project finance facility for Phase 1 of the Donald Rare Earth and Mineral Sands Project in Victoria, Australia. The commitments are subject to definitive documentation, due diligence, and remaining commercial lender participation, but the company now targets a final investment decision on the project by the end of 2026.
Key figures
- Deal Value Usd
- US$126 million
- Efa commitment
- up to A$70 million
- Facility tenor
- 10 years
- Facility total
- A$200 million proposed senior project finance debt facility
- Mine life years
- 40
- Nrfc commitment
- up to A$110 million
- Osc loan commitment
- $725 million (June 2026, conditional, for US REE processing expansion)
- Commercial lender portion
- A$20 million
- Remaining equity commitment
- approximately A$86 million (US$60 million) plus common shares equal to US$14 million
- Donald phase1 hmc production
- 225,000 tpa HMC
- Uuuu donald ownership target
- 49%
- Donald phase1 reec production
- approximately 9,000 tpa REEC
- Uuuu donald ownership current
- 15.3%
AI analysis
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