Apple Announces $500 Million Partnership to Produce Recycled Rare Earth Magnets in the United States
MP Materials announced a definitive, long-term agreement with Apple. A $500 million commitment will enable Apple to domestically source rare earth magnets for its products, supporting manufacturing and circular supply chains in the United States. In the first-of-its-kind deal, Apple and MP Materials will launch an all-new recycling facility for processing recycled rare earth elements, which will be located in Mountain Pass, California.