Energy Fuels is finalizing its $299 million acquisition of Australian Strategic Materials (ASM). The transaction originated in January 2026. Shareholders will cast a final vote on June 22. Management expects the deal to close by the end of June.
The merger combines Energy Fuels' White Mesa Mill in Utah with ASM’s operational Korean Metals Plant. This partnership creates one of the largest integrated rare earth producers outside of China. The entity will supply materials for electric vehicles, defense systems, and renewable energy technologies.