Energy Fuels says they are now debt free

The company that owns the White Mesa Uranium Mine in San Juan County announced they are now debt free.

Energy Fuels made the announcement on October 6 that the company had retired its remaining debt, making it free of long- and short-term debt.

President and CEO of Energy Fuels, Mark Chalmers says being debt free will reduce costs and allow the company to better weather market volatility and allows them to increase uranium production when warranted.

“Critical minerals, including uranium, rare earth elements, and vanadium, are front-and-center in the U.S. right now, including bipartisan support in the U.S. government,” Chalmers says. “We are continuing to work with our allies in the [Trump] Administration and Congress to create a strategic U.S. uranium reserve to enhance national security and energy security.”

Energy Fuels owns the White Mesa Mill which is the only fully-licensed and operating conventional uranium mill in the United States.

The White Mesa Mill employs 150 people at full operation although they have 60 employees at the moment. The company hopes the recent efforts will bring more jobs to the area.

The Mill has also been the subject of protests by county residents as recent as this spring, as residents have expressed concerns about the health implications of the processing mill located near the town of White Mesa on Ute Tribal land.

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