Apple to invest $500 million in MP Materials, operator of the only US rare earths mine

Apple is set to announce a $500 million commitment to MP Materials, the only operational rare earth mine in the U.S. This deal will allow Apple to purchase American-made rare earth magnets and establish a recycling facility in California. Another factory will be built in Texas for magnet production. A senior White House official stated, "This is a huge win for the president." The Trump administration prioritizes rare earth mining and domestic supply chains for national security. Currently, China dominates the global critical mineral supply. The agreement follows a $400 million investment by the Department of Defense in MP Materials.