XML 25 R9.htm IDEA: XBRL DOCUMENT

THE COMPANY AND DESCRIPTION OF BUSINESS	12 Months Ended
THE COMPANY AND DESCRIPTION OF BUSINESS	Dec. 31, 2018
Accounting Policies [Abstract]
The Company and Description of Business	THE COMPANY AND DESCRIPTION OF BUSINESS Energy Fuels Inc. was incorporated under the laws of the Province of Alberta and was continued under the Business Corporations Act (Ontario). Energy Fuels Inc. and its subsidiary companies (collectively “the Company” or “EFI”) are engaged in uranium extraction, recovery and sales of uranium from mineral properties and the recycling of uranium bearing materials generated by third parties. As a part of these activities the Company also acquires, explores, evaluates and, if warranted, permits uranium properties. The Company’s final uranium product, uranium oxide concentrates (“U₃O₈” or “uranium concentrates”), is sold to customers for further processing into fuel for nuclear reactors. The Company also produces vanadium along with uranium at certain of its Colorado Plateau properties, as market conditions warrant. The Company is an exploration stage mining company as defined by the United States (“U.S.”) Securities and Exchange Commission (“SEC”) Industry Guide 7 (“SEC Industry Guide 7”) as it has not established the existence of proven or probable reserves on any of our properties. Energy Fuels is engaged in conventional and In-situ ("ISR") uranium extraction and recovery, along with the exploration, permitting and evaluation of uranium properties in the United States. Mining activities Mining activities consist of a standalone uranium recovery facility (the “White Mesa Mill”), an ISR recovery facility, conventional mining projects and ISR mining projects. The conventional projects are located in the Colorado Plateau, Henry Mountains, Arizona Strip, and the Roca Honda project in New Mexico which are in the vicinity of the White Mesa Mill, and the Sheep Mountain Project in Wyoming. ISR projects include the Nichols Ranch Project, the Jane Dough property and the Hank Project located in Wyoming and the Alta Mesa ISR Project (the “Alta Mesa Project”) located in Texas. At December 31, 2018, other than shaft-sinking and evaluation work at the Company's Canyon Project, and a small-scale test-mining project at the Company’s La Sal complex, the conventional mining projects in the vicinity of the White Mesa Mill and Sheep Mountain are on standby, being evaluated for continued mining activities and/or in process of being permitted. The White Mesa Mill also processes third party uranium bearing mineralized materials from mining and recycling activities.