MP Materials announced a $500 million deal with Apple to supply recycled rare earth magnets for iPhones and other tech products, according to AP. The deal follows a $400 million Pentagon investment that makes the U.S. government the company’s largest shareholder and guarantees a 10-year price floor for rare earths like neodymium and praseodymium. Analysts say the Pentagon’s backing ensures stable revenue and shields MP from China’s state-subsidized price competition. The Apple deal adds momentum but won’t meet total demand, as rare earths remain central to trade tensions with China. MP Materials’ deals coincide with a U.S.-China truce easing non-tariff measures, though both sides continue efforts to reduce mutual dependency despite unresolved tensions.
