Energy Fuels to Acquire Australian Strategic Materials in $299 Million Deal

Energy Fuels Completes Acquisition of Base Resources (Toliara Project) via Scheme of Arrangement

October 2, 2024

Energy

Energy Fuels has completed its acquisition of Base Resources Limited through an Australian scheme of arrangement, securing Base’s heavy mineral sands and critical minerals assets, including the Toliara Project in Madagascar. The deal delivers a larger, more integrated rare earth and critical minerals supply chain that Energy Fuels plans to process into advanced rare earth products at its White Mesa Mill in Utah.

SES AI Acquires UZ Energy (Shenzhen UZ Energy Co., Ltd.)

September 18, 2025

Energy

SES AI Corporation executed a definitive agreement to acquire 100% of UZ Energy, an energy storage systems (ESS) provider, for approximately $25.5 million (subject to earnout adjustments). SES AI later announced the acquisition’s completion, positioning the company to expand reach in the global ESS market—especially in the United States—by combining UZ’s hardware and go-to-market with SES AI’s Molecular Universe software and battery materials.

Rio Tinto Completes Acquisitions of Stakes in Boyne Smelters (BSL) and New Zealand Aluminium Smelters (NZAS)

September 30, 2024

Manufacturing

Rio Tinto completed acquisitions of minority stakes in two aluminium smelter joint ventures: Mitsubishi Corporation's 11.65% interest in Boyne Smelters Limited (completed 30 September 2024) and Sumitomo Chemical Company's 20.64% interest in New Zealand Aluminium Smelters (NZAS) (completed 1 November 2024). Following these transactions (and a related 2.46% stake acquisition in BSL from Sumitomo Chemical), Rio Tinto increased its ownership in BSL and now holds full ownership of NZAS, citing steps to secure the long-term future of the smelters.

Sibelco Acquires Strategic Materials, Inc.

April 23, 2024

Environmental Services

Sibelco, the Belgium-headquartered materials group, has signed a definitive agreement to acquire Strategic Materials, Inc. (SMI), a leading North American glass recycler with 42 plants across the United States, Canada and Mexico. The deal expands Sibelco’s circular business into North America and strengthens its footprint beyond high‑purity quartz, adding significant glass‑recycling processing capacity and product lines.

JENNMAR Acquires Majority Stake in Australian Steel & Wire (ASW)

May 29, 2024

Building Products

JENNMAR, a FalconPoint Partners portfolio company, acquired a majority stake in Australian Steel & Wire Pty Ltd (ASW). ASW — a manufacturer of welded wire mesh and related products with low-cost operations in Malaysia — will be integrated into the JENNMAR Australia group to expand wire-mesh product offerings and strengthen supply across APAC, Europe and North America.

Energy Fuels Acquires RadTran LLC

August 16, 2024

Biotechnology

Energy Fuels Inc. acquired RadTran LLC, a private specialist in radioisotope separation, to accelerate development and production of medical isotopes (notably Ra-226 and Ra-228) used in targeted alpha therapies for cancer. The deal (closed August 16, 2024) paid $1.5M cash, $1.5M in shares, a 2% royalty on future radium revenues and up to $14M in additional cash/shares tied to milestones; RadTran's CEO Saleem Drera joins Energy Fuels to lead radioisotope efforts.