Acquisition History / Energy Fuels Inc. / Australian Strategic Materials Ltd
Energy Fuels Inc. Acquires Australian Strategic Materials Ltd
Announced January 21, 2026 — $295.0M
What happened
Australian Strategic Materials (ASX: ASM) is a rare earths 'mine to metal and alloy' company. Energy Fuels entered a scheme implementation deed to acquire 100% of ASM via a recommended scheme of arrangement, offering 0.053 Energy Fuels shares or CDIs per ASM share plus a special dividend of up to A$0.13, a total implied value of A$1.60 per share (121% premium) and equity value of about A$447M.
- Acquirer
- Energy Fuels Inc.
- Target
- Australian Strategic Materials Ltd
- Announced
- January 21, 2026
- Price
- $295.0M
- Industry
- Rare earth metals and alloys
- Buyer type
- Strategic acquirer
- Status
- Announced, not yet closed
By the numbers
Frequently Asked Questions About This Acquisition
When did Energy Fuels Inc. acquire Australian Strategic Materials Ltd?
Energy Fuels Inc. acquired Australian Strategic Materials Ltd on January 21, 2026. This was Energy Fuels Inc.'s 1st publicly tracked acquisition out of 2 we have on record.
How much did Energy Fuels Inc. pay for Australian Strategic Materials Ltd?
Energy Fuels Inc. paid $295.0M for Australian Strategic Materials Ltd.
What does Australian Strategic Materials Ltd do?
Australian Strategic Materials (ASX: ASM) is a rare earths 'mine to metal and alloy' company. Energy Fuels entered a scheme implementation deed to acquire 100% of ASM via a recommended scheme of arrangement, offering 0.053 Energy Fuels shares or CDIs per ASM share plus a special dividend of up to A$0.13, a total implied value of A$1.60 per share (121% premium) and equity value of about A$447M.
What other Rare earth metals and alloys companies has Energy Fuels Inc. acquired?
Australian Strategic Materials Ltd is Energy Fuels Inc.'s only publicly tracked acquisition in Rare earth metals and alloys so far.
More Energy Fuels Inc. acquisitions
Vacuumschmelze GmbH & Co. KG (VAC)
$1.90B · 2026