Energy Fuels to buy Germany's VAC as rare earths magnet race heats up
Company News · Mining.com ·
Rare earths producer Energy Fuels will acquire Germany's Vacuumschmelze in a $1.9 billion cash-and-stock deal, making it one of the world's largest non-Chinese producers of magnets used in aerospace, defence and renewable energy. The move joins a Western push to reduce dependence on market leader China, which has curtailed exports of critical minerals amid rising trade tensions.