Defense Metals Corp. Acquires Spectrum Mining Corporation (Wicheeda REE Project)

Reed Minerals Acquires U.S. Minerals

August 4, 2026

Industrial Services

Reed Minerals, a Speyside Equity portfolio company, completed its strategic acquisition of U.S. Minerals (USM). The bolt-on combines two coal-slag abrasive brands—Reed’s Black Beauty and USM’s Black Diamond—expanding Reed’s geographic footprint and product capabilities across North America.

USA Rare Earth Acquires Serra Verde Group for ~$2.8 Billion

April 20, 2026

Industrial Services

USA Rare Earth has entered into a definitive agreement to acquire 100% of Serra Verde Group, owner of the Pela Ema rare earth mine and processing plant in Goiás, Brazil, for approximately $2.8 billion. The transaction consists of $300 million in cash and 126.849 million shares of newly issued USA Rare Earth common stock, and is expected to close in Q3 2026 subject to regulatory approvals and customary closing conditions.

SAGA Metals Acquires Catalyst Rare Metals and the Wolverine Heavy Rare Earth Project

April 14, 2026

Data & Analytics

SAGA Metals entered into a share purchase agreement to acquire 100% of Catalyst Rare Metals Ltd., which holds the Wolverine heavy rare earth element project in central Labrador, Canada. The deal is structured as an initial payment in SAGA shares plus cash, with additional milestone payments tied to NI 43-101 resource and economic study outcomes. The acquisition was later reported as closed following the April 13, 2026 SPA.

Energy Fuels Acquires Australian Strategic Materials in $299 Million Deal

January 22, 2026

Manufacturing

Energy Fuels signed a Scheme Implementation Deed to acquire Australian Strategic Materials Ltd. (ASM) in a transaction valued at about US$299 million, aiming to create a fully integrated rare earth "mine-to-metal & alloy" producer outside China. The deal combines Energy Fuels’ White Mesa Mill in Utah (rare earth oxides) with ASM’s downstream rare earth metals and alloys operations, including its Korean Metals Plant and the Dubbo project in Australia.

Eagle Summit Resources Acquires Reflectance Energy

October 8, 2025

Energy

Eagle Summit Resources, LLC purchased Reflectance Energy, LLC and will operate the acquired Reflectance coal mining complex under the new name Eagle Mountain Energy, LLC. The acquisition adds more than two million tons of annual metallurgical coal production capacity in Wyoming County, West Virginia and strengthens ESR's position among the top U.S. metallurgical coal producers; the deal was accompanied by a new term loan facility from Valor Mining Credit Partners (managed by Breakwall Capital in partnership with Vitol) and an exclusive marketing agreement with Vitol for export volumes.

Coeur Mining Acquires SilverCrest Metals

February 6, 2025

Manufacturing

Coeur Mining, Inc. entered into a definitive agreement to acquire all issued and outstanding shares of SilverCrest Metals Inc. via a court-approved plan of arrangement. SilverCrest shareholders will receive 1.6022 shares of Coeur common stock for each SilverCrest share, implying about a US$1.7 billion equity value.