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US Rare Earth and Critical Mineral Supply Security Significantly Boosted as Energy Fuels Closes Acquisition of Australia's Base Resources
Energy Fuels is restoring essential U.S. critical mineral supply chains and processing capabilities that are key to clean energy, economic security, and nationa
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[{"type":"text","content":" Energy Fuels is restoring essential U.S. critical mineral supply chains and processing capabilities that are key to clean energy, economic security, and national defense. Acquisition of Base Resources secures the world-class Toliara Project in Madagascar, which Energy Fuels believes is the best critical mineral development project in the world. The Toliara Project is a new large-scale and low-cost source of rare earth minerals that Energy Fuels plans to develop and process into advanced rare earth products at the Company's existing facility in Utah. Rare earths are key ingredients in various clean energy technologies, including electric vehicles (EVs), Plug-In Hybrid Electric Vehicles (PHEVs), and direct-drive wind energy, along with critical national defense technologies. Acquisition positions Energy Fuels to become a globally significant producer of titanium and zirconium minerals in the future, while also maintaining its current position as a leading U.S. producer of uranium. Acquisition also secures Base Resources' mine development and operations team, who have a successful track-record of designing, constructing, and profitably operating the Kwale Project, a world-class heavy mineral sands operation in Africa. DENVER, Oct. 2, 2024 /CNW/ - Denver-based Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (\"Energy Fuels\" or the \"Company\"), an industry leader in the U.S. production of uranium and rare earth elements (\"REE\"), today announced that it has completed the acquisition of Base Resources Limited (\"Base\"), an established heavy mineral sands (\"HMS\") and critical mineral company, headquartered in Perth, Australia, in consideration of the issuance of Energy Fuels shares totaling approximately US$178.4 million in value1. The financial terms and details of the transaction can be found here. mma.prnewswire.com mma.prnewswire.com is blocked This page has been blocked by Chromium ERR_BLOCKED_BY_CLIENT Reload This page has been blocked by Chromium \"With Energy Fuels' acquisition of Base Resources and its Toliara Project in Madagascar, we have now acquired the raw materials that, when developed, will enable us to become one of the world's leading suppliers of advanced rare earth products and titanium and zirconium minerals, while also maintaining our current position as a leading producer of uranium ...