USA Rare Earth buys UK’s Less Common Metals for $100M to boost non-Chinese rare earth supply.

USA Rare Earth, Inc. has agreed to acquire UK-based Less Common Metals (LCM) in a $100 million deal involving cash and stock, aiming to build a complete rare earth supply chain outside China. The acquisition gives USA Rare Earth access to LCM’s Cheshire facility, which produces key rare earth metals and alloys from both mined and recycled sources. The combined company will supply defense, automotive, EV, and industrial sectors across multiple countries, supporting the U.S. and allies’ efforts to reduce reliance on Chinese rare earths.