Energy Fuels expansion and ASM deal boost onshore rare earths outlook
The White Mesa Mill expansion will increase heavy rare earth oxide production, aligning with a U.S. onshore supply push. Energy Fuels plans to acquire ASM and Vacuumschmelze, largely with stock, as part of broader government-supported efforts to reduce China exposure. By 2029, a fully integrated mine-to-magnet capacity could reach 15,700 t/yr magnets, signaling material upside for ASM as a key asset.
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