We do not believe in annihilation of matter. Matter cannot be destroyed.
But it can be returned to its elemental state of chaos. I am led to believe that those who go to outer darkness, including Satan, will at some point be destroyed and become elemental spirit "particles". To be purified, and reborn into spirits of one kind or another. Recycled. God wastes nothing. The rebellious, who persist in fighting God and denying the Holy Ghost, will one day be cast back into the mill, like the marred clay vessel, to be refined and made into a new vessel.
2 Arise, and go down to the potter's house, and there I will cause thee to hear my words.
3 Then I went down to the potter's house, and, behold, he wrought a work on the wheels.
4 And the vessel that he made of clay was marred in the hand of the potter: so he made it again another vessel, as seemed good to the potter to make it.
5 Then the word of the LORD came to me, saying,
6 O house of Israel, cannot I do with you as this potter? saith the LORD. Behold, as the clay is in the potter's hand, so are ye in mine hand, O house of Israel.
7 At what instant I shall speak concerning a nation, and concerning a kingdom, to pluck up, and to pull down, and to destroy it;
(Old Testament | Jeremiah 18:2 - 7)
3 Retaining all power, even to the destroying of Satan and his works at the end of the world, and the last great day of judgment, which I shall pass upon the inhabitants thereof, judging every man according to his works and the deeds which he hath done.
(Doctrine and Covenants | Section 19:3)