Energy Fuels Just Made a Bold Bet on Rare Earth Magnets

Energy Fuels acquired German magnet maker Vacuumschmelze for $1.9 billion to create a vertically integrated domestic supply chain for rare earth magnets. The deal aims to break China's monopoly on critical minerals by linking uranium mining with magnet manufacturing, supported by government loans and backed by strong uranium cash flows. Analysts view this as a strategic positioning for national security and Western industrial supply chains, despite initial market skepticism.