Tuesday, 02 January 2024 12:17 GMT

USA Rare Earth Stock Rises After Clearing Final Regulatory Hurdle In LCM Acquisition


(MENAFN- AsiaNet News)

USA Rare Earth (USAR) shares rose nearly 3% in premarket trading on Wednesday after the company announced that it had received regulatory approval from the UK Minister of State for its acquisition of LCM.

The company said that it has now received the only regulatory approval required and expects to close the acquisition on time, in line with its target for the fourth quarter of calendar year 2025.

USA Rare Earth said that the acquisition represents a significant acceleration of its magnet-to-mine strategy, establishing an end-to-end rare earth supply chain. The deal would enable LCM to continue expanding and serving its global customer base with a broad portfolio of rare earth and critical metals and alloys.

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