Apple has announced a $500 million investment in MP Materials, the sole fully integrated rare earth mining company in the U.S. This move is part of Apple’s initiative to strengthen the domestic rare earth supply chain.
The technology giant revealed its commitment to purchasing American-made rare earth magnets produced at MP Materials’ main facility in Fort Worth, Texas. These magnets will be tailored for Apple products.
Following production, the magnets will be distributed globally to meet the rising demand for rare earth materials.
Apple and MP Materials plan to collaborate on a rare earth recycling line in Mountain Pass, California. This facility will enable the processing of recycled rare earth feedstock for reuse in Apple’s products.
Furthermore, the partnership aims to develop innovative magnet materials and processing technologies to enhance magnet performance.
Apple’s commitment to investing in the U.S. aligns with its goal of spending over $500 billion in the country within the next four years.
The company’s focus on sustainability is evident through its utilization of recycled rare earth elements in its devices, starting with the iPhone 11’s Taptic Engine in 2019.
