USA Rare Earth Inc. (USAR.US) announced it has reached an agreement to acquire rare earth metals and alloys producer LCM for $100 million in cash plus 6.74 million common shares. The company also appointed Barbara Humpton as its new Chief Executive Officer (CEO), replacing Josh Ballard, with the appointment taking effect on October 1st. Following the announcement, the company's stock price rose 6.4% in pre-market trading on Monday.

The company stated that this acquisition will significantly advance its "mine-to-magnet" full-chain strategy, helping build an end-to-end rare earth supply chain. The company noted that LCM holds a unique position in the industry: its UK-based production facility spans 67,000 square feet and is the only proven company outside of China capable of large-scale production of light and heavy rare earth permanent magnet metals and alloys. Additionally, LCM maintains stable non-Chinese raw material supply channels, further strengthening its industry position.

According to the announcement, the company selected Humpton as the new CEO based on her extensive industry and management experience. She served at Siemens Group for 14 years, holding the position of CEO of Siemens USA before her departure. Previously, she also served as Vice President at Booz Allen Hamilton and Vice President at Lockheed Martin Corporation.