As part of a broader effort to strengthen the country’s rare earth supply chain, Apple is investing $500 million in MP Materials, the only fully integrated rare earth mining company currently operating in the US.
Tech Giant announced Tuesday that the deal would commit to purchasing the American-made rare earth magnets developed at MP Materials flagship facility in Fort Worth, Texas. The factory will develop a series of neodymium magnet manufacturing lines specifically designed for Apple products.
Apple says that when American-made magnets are built, they will be shipped nationwide and worldwide, helping to deal with the growing global demand for materials.
The companies will also work together to establish a rare earth recycling line at Mountain Pass, California. The facility allows MP materials to be processed and recycled rare earth raw materials, including materials from used electronics and industrial scraps, and reused in Apple products.
Furthermore, companies will work together to develop new magnet materials and machining technologies to improve the performance of magnets.
Apple says the commitment announced Tuesday is part of a pledge to spend more than $500 billion in the US over the next four years.
The tech giant first used rare earth elements recycled in the iPhone 11’s taptic engine in 2019. Today, almost all of the magnets in that device are made of 100% recycled rare earth elements.
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