Apple Invests $500 Million in U.S. Rare-Earth Supply Chain with MP Materials

Cheddar News

Apple is investing $500 million in MP Materials to build a rare-earth magnet recycling facility in California and expand a magnet manufacturing plant in Texas.

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00:00Apple's investing $500 million in MP materials to build a rare-earth magnet recycling facility

00:06in California and expand a magnet manufacturing plant in Texas, with production set to begin

00:12in 2027.

00:14The partnership aims to supply Apple devices with 100% recycled, U.S.-made rare-earth magnets,

00:21aligning with Apple's broader $500 billion commitment to U.S. investment.

00:26The move follows a $400 million investment from the U.S. Department of Defense into MP,

00:32making it the company's largest shareholder and helping to guarantee prices and bolster

00:37supply chain resilience.

00:39The deal sent MP stocks soaring and marks a significant step toward reducing U.S. reliance

00:44on China for rare-earth materials, crucial to modern electronics.

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