Energy Fuels, a US rare earths miner, has agreed to acquire a German magnet group, with the deal's equity value reported as $1.9 billion by most outlets, although one report suggests the deal is worth $1.8 billion. The acquired company is variously referred to as VAC or Vacuumschmelze. The acquisition is seen as part of a larger effort to secure rare earths supplies, with some reports noting the global competition for these resources.