This article has been disseminated on behalf of Energy Fuels Inc. and may include paid advertising.
Energy Fuels (NYSE American: UUUU) (TSX: EFR) announced it has entered into a Scheme Implementation Deed to acquire 100% of the issued share capital of Australian Strategic Materials Limited (ASX: ASM) in a transaction valuing ASM at approximately US$299 million and to be completed via a scheme of arrangement under Australian law. The acquisition is intended to create what Energy Fuels believes will be the largest fully integrated rare earth elements mine-to-metal and alloy producer outside of China by combining Energy Fuels’ REE oxide production at its White Mesa Mill in Utah with ASM’s operating Korean Metals Plant and planned American Metals Plant. The transaction is expected to strengthen vertical integration across the REE value chain, expand downstream refining and alloy conversion capacity, and enhance supply chain security for critical magnet materials used in automotive, energy, robotics, and defense applications.
To view the full press release, visit https://ibn.fm/bfyV9
About Energy Fuels
Energy Fuels is a leading U.S.-based critical materials company, focused on uranium, rare earth elements (REEs), heavy mineral sands, vanadium and medical isotopes. Energy Fuels, which owns and operates several conventional and in-situ recovery uranium projects in the western United States, has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities for the production of carbon-free nuclear energy. Energy Fuels also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the Mill, Energy Fuels also produces advanced REE products, vanadium oxide (when market conditions warrant), and is evaluating the potential recovery of certain medical isotopes from existing uranium process streams needed for emerging Targeted Alpha Therapy cancer treatments. Energy Fuels is also developing three (3) heavy mineral sands projects: the 100% owned Vara Mada Project in Madagascar; the 100% owned Bahia Project in Brazil; and the Donald Project in Australia in which Energy Fuels has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. Energy Fuels, based near Denver, Colorado, trades its common shares on the NYSE American under the trading symbol “UUUU,” and is also listed on the Toronto Stock Exchange under the trading symbol “EFR.”
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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