Apple makes $500 million deal with miner MP Materials for rare earths magnets

As part of the agreement, Apple will buy rare earth magnets created at the company's facility in Fort Worth, Texas. Both companies will combine on a new rare earth recycling line in Mountain Pass, California. MP Materials plans to start shipping magnets in 2027. "American innovation drives everything we do at Apple, and we're proud to deepen our investment in the U.S. economy," said Apple CEO Tim Cook in a press release. "Rare earth materials are essential for making advanced technology, and this partnershi ...