Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a U.S.-based uranium and rare earth elements producer, announced the appointment of Jeffrey Olsen to its board of directors, where he will also serve as a financial expert on the Audit Committee. The addition of Olsen, a seasoned mining executive, is a strategic move as the company continues to expand its critical materials businesses.
Olsen brings decades of financial, commercial and operational leadership experience in the global mining industry. Most recently, he served as president and CEO of Boart Longyear Group from 2016 to 2024 and as its chief financial officer from 2014 to 2016. During his tenure, he led restructuring initiatives, strengthened the company’s capital structure and advanced its drilling technology and orebody intelligence capabilities. Before joining Boart Longyear, Olsen spent 18 years at Rio Tinto in senior financial and commercial positions, including chief commercial officer of Rio Tinto Iron & Titanium and chief financial officer roles at Rio Tinto Minerals and Rio Tinto Borax. He currently serves as a nonexecutive director of Dyno Nobel Ltd. and Savage Companies, where he also chairs the Audit Committee.
Energy Fuels President and CEO Ross Bhappu said Olsen’s mining industry leadership and financial expertise will support the company’s strategy and continued expansion of its critical materials businesses. The appointment comes at a time when demand for critical materials, such as uranium and rare earth elements, is growing due to the global energy transition and supply chain concerns. Energy Fuels is a leading U.S. critical materials company specializing in uranium, rare earth elements, heavy mineral sands, vanadium, and the development of medical isotopes. With several uranium projects in the western United States, Energy Fuels has been the top U.S. producer of natural uranium concentrate, supplying nuclear utilities. The company owns the only fully licensed conventional uranium mill operating in the U.S. – the White Mesa Mill in Utah – where it also produces REE products and evaluates medical isotope recovery for emerging cancer therapies. Additionally, Energy Fuels is developing three heavy mineral sands/rare earths projects: the Vara Mada Project in Madagascar, Bahia Project in Brazil, and Donald Project in Australia (through a joint venture with Astron Limited). Based in Lakewood, Colorado, its shares trade on the NYSE American (“UUUU”) and TSX (“EFR”).
Olsen’s appointment is significant for Energy Fuels as it navigates the complex landscape of critical materials production. His experience in restructuring and capital management could be crucial as the company advances its rare earth and heavy mineral sands projects, which are capital-intensive and require strong financial discipline. Moreover, his background in drilling technology and orebody intelligence may help optimize operations and exploration efforts. For the industry, Olsen’s move to Energy Fuels underscores the increasing convergence of traditional mining expertise with the burgeoning critical materials sector, which is vital for national security and clean energy technologies. As the U.S. seeks to reduce dependence on foreign sources of critical minerals, Energy Fuels’ strategic board addition could enhance its ability to capitalize on emerging opportunities and deliver value to shareholders.
For more details, the full press release can be viewed at https://ibn.fm/KQ8rj. The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU. This article was disseminated on behalf of Energy Fuels Inc. and may include paid advertising. InvestorWire, a specialized communications platform, is one of 75+ brands within the Dynamic Brand Portfolio @ IBN that delivers access to a vast network of wire solutions, editorial syndication to 5,000+ outlets, and social media distribution.
