USA Rare Earth Completes LCM Acquisition

USA Rare Earth, Inc. completed its acquisition of UK-based Less Common Metals Ltd. on November 18, 2025, integrating a specialist rare-earth metals and alloys manufacturer into its supply chain.

The deal gives USA Rare Earth direct access to LCM’s metallurgical capabilities, established industry relationships, and processing capacity for recycled rare-earth oxides. Company executives say the acquisition will help secure feedstock and intermediate products for their sintered neo magnet program in Stillwater, Oklahoma, and advance a vertically integrated domestic rare-earth value chain outside China.

For semi-technical stakeholders, the transaction connects upstream oxide processing and alloy production with downstream magnet manufacturing, reducing reliance on third-party converters and improving control over material chemistry and traceability. The move also strengthens sustainability credentials by boosting recycled-oxide processing.

Analysts currently rate the stock a Buy with a roughly $23 price target, reflecting expectations that the acquisition will accelerate supply security and support commercial scaling of magnet production for defense, automotive, and industrial customers.