Apple boosts U.S. supply chain with $500 million rare earth

Following its commitment to spend more than $500 million in the U.S. over the next four years, Apple has announced a partnership with America’s only fully integrated rare earth producer to buy American-made rare earth magnets.

 

In a press release, Apple announced that it’s going to buy rare earth magnets developed at MP Materials’ flagship Independence facility in Fort Worth, Texas. Apple says it will work with the firm to develop a “cutting-edge rare earth recycling line in Mountain Pass, California.” Once it’s ready, Apple wants to take in recycled rare earth feedstock and reprocess it for use in Apple products.