Market Chatter: GM Terminates Rare-Earth Magnet Supply Agreement with VAC

04:35 AM EDT, 10/23/2026 (MT Newswires) -- General Motors (GM) has cancelled its long-term rare-earth magnet supply agreement with e-VAC Magnetics, the US unit of Germany-based Vacuumschmelze, or VAC, prompting an arbitration dispute over the contract, Reuters reported Friday, citing regulatory documents and a person familiar with the matter. Energy Fuels (UUUU), which agreed to acquire VAC for $1.9 billion in June, said in a filing last week that a customer terminated its supply agreement on July 1. Accordingly, e-VAC Magnetics initiated arbitration proceedings, seeking payments owed for the remainder of the contract, the filing added. Energy Fuels said the outcome of the arbitration could lead to an adjustment in the purchase price for e-VAC Magnetics. General Motors, e-VAC and Energy Fuels did not immediately respond to MT Newswires' requests for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)