$Energy Fuels (UUUU.US)$ NEWS Energy Fuels Announces Agreeme...
NEWS
Energy Fuels Announces Agreement for Transformational Acquisition of Base Resources, Creating a Global Leader in Critical Minerals Production with a Focus on Uranium, Rare Earth Elements and Heavy Mineral Sands
Energy Fuels Inc. announces a transformative acquisition of Base Resources, creating a global leader in critical minerals production focusing on uranium, rare earth elements, and heavy mineral sands. The acquisition includes Base Resources' advanced Toliara heavy mineral sands project in Madagascar, providing a low-cost monazite stream for rare earth element production at Energy Fuels' White Mesa Mill. The transaction strengthens Energy Fuels' U.S.-leading uranium production capability and plans, with support from U.S. government agencies. The acquisition is valued at approximately A$375 million, unlocking significant value for both companies and shareholders.
04/21/2024 - 07:13 PM
The acquisition will include Base Resources' 100%-owned advanced, world-class Toliara heavy mineral sands project in Madagascar("Toliara" or the "Project"), which includes a long-life, high-value and low cost monazite stream, produced as a byproduct of primary titanium and zirconium production.
Toliara monazite production to be processed at Energy Fuels' 100%-owned White Mesa Mill (the "Mill") into separated rare earth element ("REE") oxides, at low capital and operating cost, setting a new paradigm for low-cost, globally competitive U.S.-centered rare earth oxide production.
The transaction will also secure Base Resources' mine development and operations team, who have a successful track-record of designing, constructing, and profitably operating a world-class heavy mineral sands operation in Africa.
Energy Fuels is currently engaged in high-level discussions with various U.S. government agencies and other offices who provide support for critical mineral projects, domestically and abroad.
The transaction is complementary to and further strengthens Energy Fuels' U.S.-leading uranium production capability and plans.
Senator Mike Lee, the Senior Senator from Utah and a member of the Senate Committee on Energy and Natural Resources, stated: "I'm grateful to Energy Fuels for their work to ensure the United States has a domestic critical mineral source. The acquisition of Base Resources and the Toliara project will only further their capacity and ability to produce minerals needed for defense, technology, and everyday life."
Conference call on Monday, April 22, 2024 at 8:00 am ET.
The acquisition will include Base Resources' 100%-owned advanced, world-class Toliara heavy mineral sands project in Madagascar("Toliara" or the "Project"), which includes a long-life, high-value and low cost monazite stream, produced as a byproduct of primary titanium and zirconium production.
Toliara monazite production to be processed at Energy Fuels' 100%-owned White Mesa Mill (the "Mill") into separated rare earth element ("REE") oxides, at low capital and operating cost, setting a new paradigm for low-cost, globally competitive U.S.-centered rare earth oxide production.
The transaction will also secure Base Resources' mine development and operations team, who have a successful track-record of designing, constructing, and profitably operating a world-class heavy mineral sands operation in Africa.
Energy Fuels is currently engaged in high-level discussions with various U.S. government agencies and other offices who provide support for critical mineral projects, domestically and abroad.
The transaction is complementary to and further strengthens Energy Fuels' U.S.-leading uranium production capability and plans.
Senator Mike Lee, the Senior Senator from Utah and a member of the Senate Committee on Energy and Natural Resources, stated: "I'm grateful to Energy Fuels for their work to ensure the United States has a domestic critical mineral source. The acquisition of Base Resources and the Toliara project will only further their capacity and ability to produce minerals needed for defense, technology, and everyday life."
Conference call on Monday, April 22, 2024 at 8:00 am ET.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Spread kindness and love. Life is short. Don’t let greed eat you.
460Followers
66Following
2929Visitors
Follow
Jaguar8OP : Amaaazzzing!
夏天15936 : Why was the drop so bad yesterday?
Jaguar8OP 夏天15936: Shorts