Apple invests $500M in US rare earths to boost domestic supply and reduce China dependence
TL;DR Summary
Apple has announced a $500 million deal with MP Materials to secure rare-earth minerals for its products, including building a new magnet manufacturing facility in Texas, as part of its broader investment in US manufacturing and supply chain resilience amidst global tensions and China's export restrictions on rare earths.
- Apple to Buy Rare Earths From Pentagon-Backed, US Producer MP Bloomberg
- MP Materials stock rips 23% higher after $500 million Apple deal for rare earth magnets CNBC
- America’s Biggest Rare-Earth Producer Makes a Play to End China’s Dominance - WSJ The Wall Street Journal
- Apple expands U.S. supply chain with $500 million commitment to American rare earth magnets Apple
- Apple backs Trump rare earth minerals push, invests $500M in US mine Fox Business
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