This article has been disseminated on behalf of Energy Fuels Inc. and may include paid advertising.

Energy Fuels (NYSE American: UUUU) (TSX: EFR), a producer of rare earth elements, uranium and other critical materials, announced the completion of its acquisition of Australian Strategic Materials Limited (“ASM”), adding commercial-scale rare earth metals and alloys capabilities to its strategy to build an integrated Western mine-to-magnet supply chain. The acquisition adds ASM’s operating Korean Metals Plant in South Korea, with 1,300 tonnes per year of existing neodymium-iron-boron (“NdFeB”) alloy production capacity and commercial metallization capabilities for neodymium-praseodymium (“NdPr”). The plant is being expanded to 3,600 tonnes of annual NdFeB alloy capacity, with commissioning expected as early as the end of 2026. ASM’s Dubbo project in Australia also adds a long-life resource of rare earths and other critical minerals to Energy Fuels’ portfolio.

The transaction complements Energy Fuels’ production and expansion initiatives for NdPr, terbium and dysprosium oxides at its White Mesa Mill in Utah, as well as its heavy mineral sands projects in Brazil, Australia and Madagascar. Energy Fuels said the combined platform now spans mining, processing, oxides, metals and alloys, while its planned acquisition of permanent magnet manufacturer Vacuumschmelze (“VAC”) would extend the platform into magnet production. ASM shares have been delisted from the Australian Securities Exchange following completion of the transaction.

To view the full press release, visit https://ibn.fm/Yk8Fc

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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