Acquisition of Firawa Uranium-REE-Nb Project in Guinea

DMC Mining Limited (ASX: DMM) is currently involved in a significant transformational acquisition, in association with Base Resources. This acquisition involves Base Resources’ 100%-owned advanced, world-class Toliara heavy mineral sands project in Madagascar. The project includes a long-life, high-value and low-cost monazite stream, which will be processed at Energy Fuels’ White Mesa Mill to produce separated rare earth element oxides at low capital and operating cost.

This acquisition will secure Base Resources’ mine development and operations team and strengthen Energy Fuels’ U.S.-leading uranium production capability. The acquisition of Base Resources and the Toliara project will further enhance Energy Fuels’ capacity and ability to produce minerals needed for defense, technology, and everyday life.

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