Energy Fuels wins ASM approval, building Western mine-to-magnet rare earth business

ASM securityholders overwhelmingly approved Energy Fuels Inc.’s planned acquisition of Australian Strategic Materials Limited (ASM).

The transaction marks a key milestone in creating the only integrated mine-to-magnet rare earth business in the Western world.

Energy Fuels will integrate ASM’s rare earth metals and alloy-making capabilities into its current platform.

The strategic combination aims to provide a reliable, non-Chinese source for the entire rare earth supply chain.

The companies expect to finalize the transaction on August 28, 2026.