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Energy Fuels to acquire Australian Strategic Materials to create new "mine-to-metal & alloy" rare-earth champion
Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements (REE), and other critical materials, today announced it has entered into a Scheme Implementation Deed (SID) to acquire 100% of the issued share capital of Australian Strategic Materials Limited (ASX: ASM) (ASM), a leading producer of REE metals and alloys. The transaction values ASM at US$299m1 and will be completed by way of a scheme of arrangement under Australian law. Energy Fuels will host a co
About this update from Energy Fuels Inc.
[{"type":"text","content":"DENVER, Jan. 20, 2026 /CNW/ - Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements (REE), and other critical materials, today announced it has entered into a Scheme Implementation Deed (SID) to acquire 100% of the issued share capital of Australian Strategic Materials Limited (ASX: ASM) (ASM), a leading producer of REE metals and alloys. The transaction values ASM at US$299m1 and will be completed by way of a scheme of arrangement under Australian law. Energy Fuels will host a conference call on the transaction at 9:00 am MT on Wednesday, January 21, 2026 (details below).","length":624,"tagName":"p"},{"type":"image","alt":"Rowena Smith, MD & CEO, ASM and Mark S. Chalmers, CEO, Energy Fuels (CNW Group/Energy Fuels Inc.)","displaySize":"","headline":null,"caption":"Rowena Smith, MD & CEO, ASM and Mark S. Chalmers, CEO, Energy Fuels (CNW Group/Energy Fuels Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":267,"url":"https://media.zenfs.com/en/cnwgroup.com/3846c967ebcaf1e5644213864c30c958"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/PTaQNMxzisSz7F7WEg9GgQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3MTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/3846c967ebcaf1e5644213864c30c958","width":400,"height":267}},"href":"https://mma.prnewswire.com/media/2865757/Energy_Fuels_Inc__Energy_Fuels_to_acquire_Australian_Strategic_M.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Strategic Rationale","length":19,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Energy Fuels is creating what the company believes will be the largest, fully integrated REE "mine-to-metal & alloy" producer outside of China to close a critical strategic gap in global supply chains for magnet applications, including automotive, robotic, energy, and defense technologies.","length":304,"tagName":"p"}]},{"val":[{"type":"text","content":"Upon completion, the transaction will combine ASM's operating Korean Metals Plant (KMP) and its planned American Metals Plant (AMP) with Energy Fuels' existing REE oxide production at its White Mesa Mill in Utah. The White Mesa Mill is the only U.S. facility capable of separating monazite concentrates into both light and heavy REE oxides that are planned to be utilized in ASM'...