Energy Fuels (UUUU) said Thursday it obtained a conditional $725 million senior-secured debt commitment from the US Office of Strategic Capital.

The potential 20-year loan will fund the expansion of critical mineral processing at its Utah mill and the construction of a domestic rare earth metal plant, the company said.

The company intends to combine its manufacturing operations with the pending acquisition of Australian Strategic Materials to establish supply chains for defense and technology industries, it said.

The capital will support project development, infrastructure capacity, supply chain integration, and corporate working capital, Energy Fuels said.

Shares of the company were up by over 17% in Thursday premarket activity.