Under the agreement, Apple will purchase US-made rare earth magnets from MP Materials’ flagship facility in Fort Worth, Texas and the magnets will be produced using cutting-edge manufacturing techniques designed specifically for Apple products.

Apple aims to bolster US supply chain with $500 million deal with MP Materials for rare earth magnets

Led by the Department of Defense, the plan guarantees subsidies to US miner MP Materials, signals a new benchmark in global rare earth pricing, and gives Washington a stake in the critical mineral supply chain. The move marks a bold shift from market dependence to state backed industrial policy.

US planned to break China’s rare earth dominance with new pricing system: Details here

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Apple aims to bolster US supply chain with $500 million deal with MP Materials for rare earth magnets

US planned to break China’s rare earth dominance with new pricing system