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

Apple has announced a significant investment of $500 million in MP Materials, the only fully integrated rare earth mining company operating in the United States. This move is part of Apple's broader strategy to enhance the domestic rare earth supply chain. The tech powerhouse revealed that the investment will facilitate the production of American-made rare earth magnets at MP Materials’ main facility located in Fort Worth, Texas. This factory is set to establish specialized manufacturing lines for neodymium magnets specifically tailored for Apple’s products. Once produced, these magnets will be distributed nationwide and globally to meet the surging demand for rare earth materials. In addition to manufacturing, Apple and MP Materials plan to collaborate on establishing a rare earth recycling line in Mountain Pass, California. This facility will process recycled rare earth feedstock sourced from used electronics and post-industrial scrap, allowing for the reuse of these materials in Apple’s devices. Moreover, the partnership aims to innovate new magnet materials and processing technologies to improve magnet performance. Apple emphasized that this latest commitment is part of its ambition to invest over $500 billion in the U.S. within the next four years. The company has previously incorporated recycled rare earth elements, first utilizing them in the Taptic Engine of the iPhone 11 back in 2019. Currently, nearly all magnets used in Apple's devices are made from 100 percent recycled rare earth elements.