Donald Rare Earth and Mineral Sands Project

planned

The Donald Project is a heavy rare earth element mining project located in Victoria, Australia. It aims to produce critical rare earth elements such as dysprosium and terbium to meet significant portions of U.S. demand. The project is fully permitted and plans to process high-grade monazite feedstock through Energy Fuels' White Mesa Mill in Utah, the only U.S. facility capable of commercial-scale rare earth separation. The project targets first production in the second half of 2027 with a total capital requirement of A$520 million, structured on a 50:50 debt-to-equity basis, and has received conditional A$80 million debt support from Export Finance Australia.