Lates News

American uranium producer Energy Fuels (UUUU.A) has agreed to pay a premium to acquire Australian strategic material company (ASM). This move signifies an increased effort by the United States to ensure the security of the Western rare earth elements supply chain. Energy Fuels and ASM issued statements on Wednesday stating that Energy Fuels will acquire the rare earth company for 447 million Australian dollars (approximately 300.9 million US dollars). The transaction represents a 121% premium over ASM's closing price on January 20th. Following the announcement, ASM's stock price surged 126% to reach 1.63 Australian dollars. After the completion of the deal, ASM's metal processing plant in Korea and its planned metal plant in the United States will be merged with Energy Fuels' existing rare earth oxide production line at the White Mesa plant in Utah.