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Energy Fuels M&A Targets US Rare Earth Magnet Supply Chain
Energy Fuels published slides from its M&A call with Ara Partners and VACUUMSCHMELZE, outlining a push into US rare earth magnet production.
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Energy Fuels released the slide deck from its June 23 M&A call. The presentation described a transaction involving Ara Partners Group, VACUUMSCHMELZE, and Ara Vac Topco US. The deal is designed to build a US rare earth permanent magnet supply chain, a segment Washington has pushed for domestic production through the Defense Production Act and the Inflation Reduction Act.
Energy Fuels already operates the White Mesa mill in Utah. The facility processes uranium and, since 2021, has produced mixed rare earth carbonate. Adding magnet manufacturing would connect upstream separation to the finished product. VACUUMSCHMELZE, a German producer of magnetic materials and alloys, brings decades of automotive and aerospace supply experience. Ara Partners supplies capital focused on industrial decarbonisation.
The slide deck emphasised the strategic logic. China controls roughly 90 percent of rare earth processing and an even larger share of magnet production. US policy support includes Defense Production Act awards, 48C tax credits, and Department of Energy grants. Energy Fuels has received a DOE grant for rare earth separation work at White Mesa.