Apple commits $500M to U.S.-based rare earth recycling firm MP Materials

Apple has committed $500 million to MP Materials, the only fully integrated rare earth mining company operating in the United States, to bolster the domestic rare earth supply chain. This investment includes Apple's commitment to purchasing American-made rare earth magnets produced at MP Materials’ Fort Worth, Texas facility. The factory will focus on manufacturing neodymium magnets tailored specifically for Apple products, which will be distributed both nationally and globally to meet rising demand. Additionally, Apple and MP Materials will collaborate to establish a rare earth recycling facility in Mountain Pass, California. This plant will process recycled rare earth materials sourced from used electronics and industrial scrap for reuse in Apple devices. The partnership also aims to develop new magnet materials and processing technologies to improve magnet performance. This initiative aligns with Apple’s broader pledge to invest over $500 billion in the U.S. over the next four years and builds on its history of using recycled rare earth elements in its products since 2019.