Apple invests $500 million to source critical iPhone material from the U.S.

Apple will put $500 million into a Pentagon-backed rare earths company

Apple is spending millions for a U.S. rare earth company to produce magnets for the tech company after the Pentagon became its largest shareholder

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

Following its commitment to spend more than $500 billion 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…

Apple invests $500 M in US rare-earth magnet supply chain

: MP Materials aims to deliver US-made, recycled magnets by 2027

America's Only Rare Earth Producer Gets a Boost from Apple and Pentagon Agreements

They are important ingredients in everything from smartphones and submarines to EVs and fighter jets, and it's those military applications that have made rare earths a key concern in ongoing U.S. trade talks.

America's only rare earth producer gets a boost from Apple and Pentagon agreements

MP Materials, the operator of the only rare earths mine in the United States, has signed a $500 million deal with Apple. The agreement announced Tuesday aims to boost production of magnets used in iPhones, as well as other high…

America’s only rare earth producer gets a boost from Apple and Pentagon agreements

MP Materials, which runs the only American rare earths mine, announced a new $500 million agreement with tech giant Apple on Tuesday to produce more of the powerful magnets used in iPhones as well as other high-tech products like electric vehicles. This news comes on the heels of last week’s announcement that the U.S. Defense Department agreed to invest $400 million in shares of the Las Vegas-based company. That will make the government the larg…