Mentioned:
Energy Fuels is buying a publicly traded company in Australia. But, why?
What’s happening:
- Energy Fuels (NYSE: UUUU) has entered into a definitive agreement to acquire Australian Strategic Minerals (ASX: ASM)
By the numbers:
- Energy Fuels will pay roughly $299M USD in an all stock deal to buy Australian Strategic Minerals
Why it matters:
- Energy Fuels has publicly stated that their acquisition of Australian Strategic Minerals is largely focused on developing a fully vertically integrated rare earth supply chain from mining to alloy and magnet production
Going deeper:
- Australian Strategic Minerals’ flagship rare earth project is located in South New Wales, Australia and contains large deposits of both light and heavy rare earth elements as well as niobium
- Australian Strategic Minerals also owns a rare earth metal and alloy processing facility located in South Korea
