USA Rare Earth to acquire Less Common Metals.

USA Rare Earth, a supplier of rare earth magnets and heavy rare earth elements, agreed to acquire Less Common Metals, a rare earth metal and alloy producer. Financial terms were not disclosed. “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,” Michael Blitzer, USAR Chairman.