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US uranium producer Energy Fuels acquires Australia’s ASM to expand rare earth supply chain

US uranium producer Energy Fuels acquires Australia’s ASM to expand rare earth supply chain

格隆汇格隆汇2026/01/21 06:15
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By:格隆汇
Glonghui January 21st|U.S. uranium producer Energy Fuels (UUUU.US) has agreed to acquire Australian Strategic Materials (ASM) at a significant premium. This move signals the U.S. is stepping up efforts to secure the Western supply chain of rare earth elements. 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 U.S. dollars). The deal represents a 121% premium to ASM's closing price on January 20th. After the news was announced, ASM's share price soared by as much as 126%, reaching 1.63 Australian dollars. After the transaction is completed, ASM’s metallurgical plant in South 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.
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