Apple plans to invest $500 million with MP Materials, the only fully integrated rare earth producer in the United States. With this multiyear deal, Apple is committed to buying American-made rare earth magnets developed at MP Materials’ flagship Independence facility in Fort Worth, TX. The two companies will also work together to establish a cutting-edge rare earth recycling line in Mountain Pass, CA, and develop novel magnet materials and innovative processing technologies to enhance magnet performance.
Rare earth magnets are critical for use in many electronic systems and most of the world’s supply comes from China.
[Photo above: Apple and MP Materials will build out the state-of-the-art Texas factory with a series of neodymium magnet manufacturing lines specifically designed for Apple products. Photo by MP Materials.]…