Apple commits $500M to U.S.-based rare earth recycling firm MP Materials

Apple is investing $500 million in MP Materials, the only fully integrated rare earth mining company currently operating in the United States, as part of a broader effort to strengthen the domestic rare earth supply chain.

The tech giant announced on Tuesday that with this deal, it’s committed to buying American-made rare earth magnets developed at MP Materials’ flagship facility in Fort Worth, Texas. The factory will develop a series of neodymium magnet manufacturing lines specifically designed for Apple products.

Apple says that once…