Energy Fuels Acquires Australian Strategic Materials in $299 Million Deal
January 22, 2026
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.
- Buyers
- Energy Fuels
- Targets
- Australian Strategic Materials Ltd.
- Industry
- Manufacturing
- Location
- Western Australia, Australia
- Transaction Type
- Buyout
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