Latest Foreign Investment Review Board News

Energy Fuels Inc. has announced a proposed acquisition of Australian Strategic Materials (ASM) valued at approximately A$447 million, aiming to establish a leading Western rare earths and critical minerals producer with a fully integrated supply chain.

Energy Fuels Inc. has announced a binding agreement to acquire Australian Strategic Materials Ltd (ASM) in a deal valuing ASM at approximately A$447 million, offering shareholders a 121% premium. The acquisition aims to establish a vertically integrated Western rare earths supply chain, aligning with critical minerals strategies between the US and Australia.

Alchemy Resources is set to begin reverse circulation drilling at its Roe Hills lithium project in Western Australia, following promising aircore results. The drilling forms part of a joint venture with JOGMEC, aiming to unlock significant lithium potential along a major structural trend.

The Foreign Investment Review Board has extended its deadline to assess Caterpillar’s proposed acquisition of RPMGlobal, pushing the decision to 23 January 2026. This procedural extension keeps the deal on track but leaves some questions open for shareholders.

Apiam Animal Health has secured Foreign Investment Review Board approval for its acquisition by Adamantem Capital, paving the way for a crucial shareholder vote in February.

Iron Road has declined to extend Revera Energy’s option to purchase a strategic 24-hectare land parcel at Cape Hardy, marking a significant shift in their green hydrogen project partnership. Two larger land purchase options remain active, with potential buyback rights now triggered.

Toro Energy has secured a crucial Foreign Investment Review Board approval for its acquisition by IsoEnergy, moving the deal closer to completion. Shareholder and court approvals remain as the next steps.

RPMGlobal shareholders have decisively approved the proposed acquisition by Caterpillar’s subsidiary, marking a pivotal step toward finalising the deal pending regulatory and court approvals.

Sarytogan Graphite Limited updates investors on its $5 million capital raising, highlighting regulatory approval delays but confirming near-term funding to advance its key graphite project.

RPMGlobal shareholders convened on 19 December 2025 to vote on Caterpillar's $5.00 per share acquisition proposal, with strong board support and regulatory hurdles nearing resolution.

The Australian Competition and Consumer Commission has given the green light to Caterpillar’s proposed acquisition of RPMGlobal, clearing a major regulatory hurdle. The deal now awaits shareholder and Foreign Investment Review Board approvals.

The Australian Treasurer has approved Hanwha Corporation’s increase of its direct equity stake in Austal Limited from 9.9% to 19.9%, setting the stage for potential strategic partnerships as Austal rides a wave of record revenues and defence contracts.