Energy Fuels acquires Base Resources' shares, including its Toliara heavy mineral sands project in Madagascar, for A$375 million, aiming for low-cost US-centered rare earth oxide production.

Energy Fuels, a leading US producer of uranium, rare earth elements (REEs), and vanadium, has entered into a definitive agreement with Base Resources Limited to acquire 100% of Base Resources' shares. The deal values Base Resources at an estimated A$375 million and includes its advanced, world-class Toliara heavy mineral sands project in Madagascar. Toliara monazite production will be processed at Energy Fuels' White Mesa Mill into separated rare earth element oxides, setting a new paradigm for low-cost, globally competitive U.S.-centered rare earth oxide production.

April 22, 2024
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