Curated News
By: NewsRamp Editorial Staff
January 21, 2026
Energy Fuels Acquires ASM to Create Largest Non-Chinese Rare Earth Producer
TLDR
- Energy Fuels' acquisition of ASM creates the largest non-Chinese integrated rare earth producer, securing a competitive edge in critical materials for automotive, energy, and defense markets.
- Energy Fuels will acquire ASM for $299 million via a scheme of arrangement, combining its Utah REE oxide production with ASM's Korean and planned American metals plants.
- This acquisition enhances supply chain security for critical materials, supporting sustainable technologies and reducing reliance on single sources for essential components in clean energy and healthcare.
- Energy Fuels' rare earth expansion includes potential recovery of medical isotopes for cancer treatments, merging mining innovation with healthcare advancements in a single strategic move.
Impact - Why it Matters
This acquisition matters because it addresses critical vulnerabilities in global supply chains for rare earth elements, which are essential for modern technologies including electric vehicles, renewable energy systems, robotics, and defense applications. Currently, China dominates over 80% of global rare earth production and processing, creating significant geopolitical and economic risks for Western nations and industries. By creating the largest fully integrated rare earth producer outside of China, Energy Fuels is helping to establish alternative, secure supply chains that reduce dependence on a single country. This development supports national security interests, enables technological innovation in clean energy and advanced manufacturing, and creates more resilient industrial ecosystems. For consumers, this means greater stability in the production of everything from electric cars to wind turbines, while for investors it represents a strategic play in the growing critical minerals sector that's essential for the global energy transition and technological advancement.
Summary
Energy Fuels Inc., a leading U.S.-based critical materials company, has announced a major strategic acquisition that could reshape the global rare earth elements (REEs) landscape. The company has entered into a Scheme Implementation Deed to acquire 100% of Australian Strategic Materials Limited (ASM) in a transaction valued at approximately US$299 million. This move aims 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 acquisition is designed 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.
The transaction represents a significant consolidation in the critical minerals sector, bringing together Energy Fuels' established U.S. operations with ASM's international assets. Energy Fuels, which trades on the NYSE American under symbol "UUUU" and on the Toronto Stock Exchange as "EFR," has been the leading U.S. producer of natural uranium concentrate for several years and operates the only fully licensed and operating conventional uranium processing facility in the United States at its White Mesa Mill. The company's expansion into rare earth elements comes at a time when global demand for these materials is surging, particularly for applications in electric vehicles, renewable energy technologies, and advanced defense systems. The acquisition will be completed via a scheme of arrangement under Australian law, with the full details available through the InvestorBrandNetwork.
This strategic move positions Energy Fuels to become a dominant player in the non-Chinese rare earth elements market, addressing growing concerns about supply chain vulnerabilities and geopolitical dependencies. The company's existing expertise in uranium and critical materials processing, combined with ASM's metal and alloy production capabilities, creates a comprehensive value chain from mining to finished products. For investors and industry observers, this represents a significant development in the ongoing efforts to establish secure, diversified sources of critical minerals essential for modern technologies and national security. The latest news and updates relating to UUUU are available in the company's newsroom, providing ongoing coverage of this transformative acquisition and its implications for the global critical minerals market.
Source Statement
This curated news summary relied on content disributed by InvestorBrandNetwork (IBN). Read the original source here, Energy Fuels Acquires ASM to Create Largest Non-Chinese Rare Earth Producer
