Apple Invests $500M in MP Materials for Rare Earth Recycling

Apple Invests in Domestic Rare-Earth Supply Chain

Apple is making a substantial investment of $500 million into MP Materials. This investment supports the only fully integrated rare-earth mining company operating within the United States.

This move is a key component of a larger strategy aimed at bolstering the nation’s rare-earth supply chain. The announcement was made by the tech company on Tuesday.

Magnet Production in Texas

Through this agreement, Apple has committed to procuring rare-earth magnets manufactured within the U.S. These magnets will be developed at MP Materials’ primary facility located in Fort Worth, Texas.

Specifically, the factory will establish dedicated neodymium magnet production lines. These lines will be tailored for integration into Apple products.

Once production commences, these domestically sourced magnets will be distributed globally. This distribution will help meet the escalating worldwide demand for this critical material.

Recycling and Innovation

A collaborative effort will also focus on establishing a rare-earth recycling operation in Mountain Pass, California. This facility will enable MP Materials to process recycled rare-earth materials.

The feedstock for this recycling process will include end-of-life electronics and industrial scrap. The recovered materials will then be reintegrated into new Apple products.

Furthermore, the two companies will jointly pursue the development of innovative magnet materials. This research will also focus on advanced processing techniques to improve magnet performance.