Energy Fuels CEO on VAC acquisition: Transformational for us and sets us apart from the competition
Speakers
Ross Bhappu
— CEO, Energy Fuels
Brian Sullivan
— Anchor, CNBC (Last Call / Power Lunch)
Summary
Energy Fuels CEO Ross Bhappu discusses the $2 billion VAC acquisition, which is nearly half the company's market cap, describing it as transformational. The deal completes a mine-to-magnet rare earth supply chain, positioning the company to be cost competitive with China. Bhappu highlights existing NdPr production, the Utah mill, and the Madagascar mine project.
- Energy Fuels acquires VAC for $2B, moving into magnet production and completing vertical integration.
- CEO calls the deal transformational, value accretive, and a differentiator from competitors.
- Company already produces NdPr and operates a mill in Utah capable of ~1000 tons per year.
- A mine under development in Madagascar will provide low-cost rare earth concentrate.
- Goal is full cost competitiveness with China from mine to magnet.
- Ticker UUUU is highlighted as the investable expression.
Ideas
Acquisition creates mine-to-magnet rare earth leader
The VAC acquisition is transformational and value accretive, giving Energy Fuels a full mine-to-magnet rare earth supply chain from mining through magnet production, with cost competitiveness versus China that sets the company apart from all competitors.
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This CNBC video, published June 23, 2026, features Ross Bhappu discussing UUUU. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Ross Bhappu · Tickers: UUUU