Leading North American uranium and critical minerals company Energy Fuels Inc. (Energy Fuels) announced it had entered into a definitive agreement for the transformational acquisition of Australian-based, African-focused mineral sands producer Base Resources Limited (Base Resources) through a definitive scheme implementation deed. Subject to satisfaction of various closing conditions, Energy Fuels will acquire 100% of Base Resources’ shares for a total equity value of approximately A$375 million.

This acquisition is expected to create a global leader in critical minerals production with a focus on uranium, rare earth elements and heavy mineral sands.

Dentons acted as the lead legal advisor to Energy Fuels on this transaction, with a robust multi-practice team across three continents. Canadian partner Jason Saltzman led the team along with Australian partner John Mollard. Partner Brandon Irsigler led the team in South Africa. The core legal team also included Mark Jadd, Andreas Kloppenborg and Emeleigh Moulton in Toronto, and Cameron Steele in Australia. Darren Acres and Gillian Cole also provided support on UK matters.

Dentons’ experience working with energy and mining businesses everywhere in the world tells us that these sectors will play a critical role in enabling the global energy transition. Our lawyers know these industries and understand the transformations which are taking place at pace. As the critical minerals sector evolves, Dentons continues to be an advisor of choice for global companies, providing innovative and strategic advice to achieve your business objectives.