USA Rare Earth Inc. (NASDAQ:USAR) surged 9% in premarket trading Monday following the announcement of a definitive agreement to acquire LCM, a UK-based producer of rare earth metals and alloys, for $100 million in cash plus 6.74 million USAR common shares.
The acquisition represents a major milestone in USAR’s mine-to-magnet strategy, creating a fully integrated rare earth supply chain. LCM stands out as the only verified ex-China producer of both light and heavy rare earth metals and alloys for permanent magnets at commercial scale.
“The acquisition of LCM is a bold and transformative leap forward for our Company and the domestic rare earth industry,” said Michael Blitzer, Chairman of USAR. “Midstream metal making is the linchpin of the global supply chain and LCM is the only proven ex-China producer of rare earth metal, alloys, and strip casting at scale.”
LCM operates a 67,000-square-foot facility in Cheshire, UK, producing a range of rare earth metals and alloys including Samarium, Neodymium-Praseodymium, and Dysprosium. Its customers span the defense, automotive, electric vehicle, and industrial sectors across the U.S., UK, France, Germany, Japan, and Taiwan.
The acquisition will supply USAR’s Oklahoma magnet facility with high-quality rare earth metals and strip-cast alloys, while also adding the capacity to process recycled materials. This move secures a critical piece of USAR’s growing end-to-end rare earth supply chain.
The transaction is expected to close in the fourth quarter of 2025, pending customary closing conditions and regulatory approvals in the UK.
In a separate announcement, USAR revealed that Barbara Humpton, former CEO of Siemens USA, will take over as the company’s Chief Executive Officer on October 1, 2025, succeeding Josh Ballard.
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