Energy Fuels Inc.’s acquisition of Australian Strategic Materials Limited (ASM) becomes effective on August 19, 2026. ASM securityholders overwhelmingly approved the transaction on August 12, 2026. The Federal Court of Australia granted final approval on August 18, 2026. Trading of ASM securities on the Australian Securities Exchange will be suspended following the August 19 market close.
ASM shareholders will receive 0.053 new Energy Fuels CHESS Depositary Interests for each share. The agreement also includes a cash payment of A$0.13 per ASM share.
The acquisition establishes an integrated, Western world mine-to-magnet rare earth supply chain. Energy Fuels adds the Korean Metals Plant and the Dubbo Project to its portfolio. The deal also includes a planned American Metals Plant. These assets complement rare earth oxide production at the White Mesa Mill in Utah.