Shares of aspiring rare earth producer USA Rare Earth rose early Wednesday after the company announced U.K. approval for its purchase of Less Common Metals. USA Rare Earth stock was up 1.6% at $18.06 in premarket trading, while and futures were up 0.3% and 0.2%, respectively. The company, which is developing a rare earth mine in Texas, agreed to buy Less Common Metals, a U.K.-based manufacturer of specialized rare earth metals and alloys, for $100 million and 6.74 million shares in September.