The deposit contains titanium, zirconium, and rare earth-host minerals.
The government of Madagascar has lifted the suspension of U.S. mining company Energy Fuels’ Toliara mining project in the southwest of the island nation. According to the company, this marks a significant step towards further developing the deposit. Energy Fuels gained access to Toliara through its acquisition of Australian rare earth miner Base Resources earlier this year (we reported). Base Resources held permits to mine titanium and zirconium minerals at Toliara; however, the Madagascan government suspended all operations in 2019 to renegotiate fiscal terms. Energy Fuels now seeks to expand the mining permits to rare earth host minerals and will recommence development and investment in the project. The company added that it would work towards a final investment decision expected to be made in early 2026.
Energy Fuels is one of the largest uranium producers in the United States. The company has recently begun diversifying its production by adding other minerals to its portfolio. Besides acquiring Base Resources, the company purchased the Bahia rare earth project in Brazil in 2022 and is co-developing the Donald rare earth and mineral sands project in Australia with local miner Astron.
Photo: omersukrugoksu via Canva