This article has been disseminated on behalf of Energy Fuels Inc. and may include paid advertising.
Energy Fuels (NYSE American: UUUU) (TSX: EFR) a leading U.S. producer of uranium, rare earth elements (“REE”) and other critical minerals, announced that Australian Strategic Materials Limited (ASX: ASM) securityholders overwhelmingly approved Energy Fuels’ planned acquisition of ASM at Scheme Meetings held Aug. 12 in Perth, Australia. The Share Scheme received approval from 98.23% of votes cast and 83.62% of ASM shareholders present and voting, while the Option Scheme received 99.97% of votes cast and support from 87.78% of participating optionholders. ASM is scheduled to seek Federal Court of Australia approval Aug. 18, with the schemes expected to become effective Aug. 19 and implementation targeted for Aug. 28.
The acquisition is intended to advance Energy Fuels’ development of an integrated Western mine-to-magnet rare earth supply chain by adding ASM’s Korean Metals Plant, planned American Metals Plant and Dubbo Project in New South Wales to Energy Fuels’ rare earth oxide production at its White Mesa Mill in Utah and the Donald Project in Victoria being developed with Astron Limited. Separately, Energy Fuels has agreed to acquire permanent magnet manufacturer Vacuumschmelze (“VAC”), which, if completed, would extend the platform into magnet production. The VAC acquisition is expected to close in early 2027, subject to regulatory approvals and other conditions, and is not a condition of the ASM transaction.
To view the full press release, visit https://ibn.fm/6PfZZ
About Energy Fuels
Energy Fuels is a leading U.S. critical materials company specializing in uranium, rare earth elements, heavy mineral sands, vanadium, and the development of medical isotopes. With several uranium projects in the western United States, Energy Fuels has been the top U.S. producer of natural uranium concentrate, supplying nuclear utilities. The Company owns the only fully licensed conventional uranium mill operating in the U.S. – the White Mesa Mill in Utah – where it also produces REE products and evaluates medical isotope recovery for emerging cancer therapies. Additionally, Energy Fuels is developing three heavy mineral sands/rare earths projects: the Vara Mada Project in Madagascar, Bahia Project in Brazil, and Donald Project in Australia (through a joint venture with Astron Limited). Based in Lakewood, Colorado, its shares trade on the NYSE American (“UUUU”) and TSX (“EFR”).
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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