AUS
NZ
UK
CA
USA
IND
_09_30_2025_10_23_41_495622.png)
Highlights
- USAR secures rare earth metal and alloy production outside of China for USAR.
- LCM can process both mined and recycled rare earth oxides.
- USD 125M equity investment supports the company’s growth initiatives.
USA Rare Earth, Inc. (Nasdaq:USAR) has entered into an agreement to acquire Less Common Metals (LCM), a UK-based manufacturer of rare earth metals and alloys. This acquisition advances USAR’s mine-to-magnet strategy by establishing a fully integrated rare earth supply chain. LCM is recognized as the only proven ex-China producer of both light and heavy rare earth permanent magnet metals and alloys at scale.
Transaction Details
USAR will acquire LCM for USD 100M in cash and 6.74M shares of USAR common stock. The deal is expected to close in Q4 2025.
LCM Operations
LCM operates a 67,000 sq. ft. production facility in Cheshire, UK, manufacturing metals and alloys including Samarium, Samarium Cobalt, Neodymium Praseodymium, Dysprosium, Terbium, Yttrium, and Gadolinium. LCM can process metal oxide feedstocks from both mined and recycled sources, providing a critical component of USAR’s supply chain.
Strategic Rationale
The acquisition ensures USAR access to high-quality rare earth metals and strip cast alloys, essential for magnet production. LCM’s network includes global customers, defense contractors, and government relationships across the U.S., UK, France, Australia, and Japan.
Management Statements
Michael Blitzer, Chairman of USAR, stated:
"The acquisition of LCM is a bold and transformative leap forward for our Company and the domestic rare earth industry. 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. Over three decades, LCM has brought proven expertise and world-class capability and is the sole Western provider of critical defense materials such as Samarium Cobalt metal."
Equity Investment
USAR received a USD 125M investment from an existing shareholder at USD 15 per share. The proceeds will support the company’s growth plans.
Future Operations
LCM will continue serving its global customer base and supply Neodymium Iron Boron metal and strip cast alloy to USAR’s Stillwater, Oklahoma magnet facility.
