- 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."
Reported Sunday, Energy Fuels Inks Definitive Scheme Implementation Deed With Base Resources For The Acquisition Of All Issued Shares For ~A$375M
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