Energy Fuels Acquires Magnet Manufacturer VAC to Create North American "Mine-to-Magnet" Supply Chain
Critical materials producer Energy Fuels is set to acquire Vacuumschmelze (VAC), a leading rare earth magnet maker, in a $1.9 billion deal. This strategic acquisition aims to establish a fully integrated "mine-to-magnet" supply chain across North America, from raw material extraction to finished product. The move is poised to bolster domestic production of essential components for electric vehicle motors and other advanced technologies.