Energy Fuels Appoints Ross R. Bhappu as President in Strategic Leadership Move

Energy Fuels Inc., a prominent U.S. producer of uranium, rare earth elements, and critical minerals, has named Ross R. Bhappu as its new President, effective August 4, 2025. This appointment represents a significant step in the company's long-term succession planning, with Mark S. Chalmers continuing to serve as Chief Executive Officer and Director. Bhappu brings 35 years of experience in mining and private equity to the position, including substantial tenure with Resource Capital Funds, making him a valuable addition to Energy Fuels' leadership team during a period of strategic expansion.

The timing of this leadership transition holds particular importance given Energy Fuels' critical role in the U.S. energy infrastructure. As the leading producer of natural uranium concentrate, the company supplies nuclear utilities that generate carbon-free nuclear energy, positioning it at the forefront of clean energy production. Bhappu's expertise in project evaluation, development, finance, and acquisitions is expected to play a pivotal role as the company advances its uranium and rare earth initiatives. His background in mining investment and development aligns with Energy Fuels' expanding portfolio of projects across multiple continents.

Energy Fuels' strategic importance extends beyond uranium production through its ownership of the White Mesa Mill in Utah, the only fully licensed and operating conventional uranium processing facility in the United States. This facility represents a critical national asset that not only processes uranium but also produces advanced rare earth element products and vanadium oxide. The mill is currently exploring the recovery of medical isotopes for cancer treatments, demonstrating the company's diversification into healthcare applications. More information about these operations can be found at http://www.energyfuels.com.

With global demand for clean energy and critical minerals accelerating, Energy Fuels' strategic initiatives have gained increased relevance. The company is developing heavy mineral sands projects in Madagascar, Brazil, and Australia, expanding its global footprint in critical mineral production. Bhappu's appointment signals the company's commitment to strengthening leadership expertise during this period of rapid sector evolution. His extensive background in mining finance and project development positions him to guide Energy Fuels through complex international projects while maintaining its domestic production capabilities.

The leadership transition comes at a crucial moment for the U.S. critical minerals sector, which faces increasing competition and supply chain challenges. Energy Fuels' combination of domestic processing capabilities and international project development requires sophisticated leadership to navigate regulatory environments and market dynamics. Bhappu's experience in both mining operations and financial management provides the comprehensive skill set needed to advance the company's dual focus on uranium production for clean energy and rare earth elements for technological applications.