US Uranium Giant Acquires Australian Miner for $300M to Counter China's Rare Earth Dominance

• US uranium producer Energy Fuels is acquiring Australian Strategic Materials (ASM) for $300 million in an all-share deal.
• The acquisition aims to create a 'mines-to-metal' supply chain for rare earths, crucial for defense, EVs, and renewable energy.
• This move strengthens the US-Australia alliance to secure critical mineral supply chains, reducing reliance on China.
• ASM's shares surged over 100% following the announcement, reflecting market optimism.
• Energy Fuels will integrate ASM's South Korean processing facility and intellectual property with its Utah separation facility, aiming to become the largest independent non-Chinese producer.

Why It Matters: Energy Fuels' $300M acquisition of ASM aims to build a robust rare earths supply chain outside China.