The sale of radioactive materials license and related assets is part of the company’s cost reduction and asset rationalization program.
The company currently processes 2,000 tons of uranium ore per day at its White Mesa Mill, and it no longer needs to build the Piñon Ridge project.
Said to be the only operating conventional uranium mill in the US, the White Mesa Mill is expected to produce 825,000 pounds of U3O8 this year.
Energy Fuels president and CEO Stephen Antony said: "By monetizing this non-core uranium asset, Energy Fuels is able to improve our balance sheet and realize cost reductions.
"Energy Fuels continues to believe in the long-term fundamentals of the uranium and nuclear markets, and this transaction will not impact our future production potential or scalability."
