Apple has signed a $500 million agreement with MP Materials to support the construction of a rare earth recycling line at Mountain Pass and manufacturing lines for magnets in Texas. This partnership aims to strengthen Apple's supply chain for rare earth metals, crucial for modern technology. The companies have been collaborating for nearly five years to develop recycling methods for rare earth magnets. MP Materials plans to produce neodymium magnets for Apple by 2027, supporting the production of hundreds of millions of devices.
Deep in California's arid Mojave Desert, workers at the decades-old Mountain Pass mine use massive machines to extract and refine the rare earth metals that make our modern devices work.
The Cupertino tech giant has inked a $500 million deal with Mountain Pass' owner and operator MP Materials, which will help Apple onshore a part of its sprawling supply chain.
News releases from both companies said they've been working together for nearly five years to test ways to recycle rare earth magnets for Apple. MP Materials expects to start producing neodymium magnets for Apple in 2027.
Apple CEO Tim Cook wrote in his company's release that "this partnership will help strengthen the supply of these vital materials here in the United States" and that Apple "couldn't be more excited about the future of American manufacturing."
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