On July 15 local time, U.S. rare earth enterprise MP Materials made a high-profile announcement of a $500 million cooperation deal with Apple, marking a significant step in the tech giant's push for sustainable supply chains. Under the agreement, MP Materials will embark on a major expansion of its Texas plant, with plans to significantly boost production capacity to meet Apple's demand for recycled rare earth magnets, which are crucial components in various Apple devices, from iPhones to Macs. This move not only aligns with Apple's environmental goals but also strengthens its reliance on domestic supply chains.
Prior to this, on July 10, MP Materials had already grabbed headlines by announcing that the U.S. Department of Defense had pledged to invest billions of dollars in the company. The funds are earmarked to accelerate the construction of America's rare earth permanent magnet supply chain, a strategic initiative aimed at reducing reliance on foreign sources and enhancing national security in the critical rare earth sector. Together, these two major investments underscore the growing importance of rare earths in both consumer electronics and defense applications, positioning MP Materials as a key player in reshaping the global rare earth landscape.
