Apple, rare earths
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Apple has committed $500 million to buying recycled rare earth magnets from MP Materials, a mining company with a major manufacturing hub in far north Fort Worth.
A rare-earths producer, MP Materials is developing a rare-earth magnet production facility in Texas. MP Materials and Apple are partnering to produce rare-earth magnets. Rare-earth magnet production at the Texas facility is expected to start in 2027.
MP Materials is America’s only fully integrated rare earth producer with capabilities ranging from mining to end products. Learn more about MP stock here.