Apple called the agreement a “first-of-its-kind deal” that will bring new manufacturing lines to an MP Materials recycling facility for rare Earth elements.
Key Facts
MP Materials, the only rare Earth element mining company in the U.S., will sell rare earth magnets developed at its flagship Fort Worth, Texas, facility to Apple, according to an announcement from the tech giant.
Apple will commit $500 million to MP Materials under the deal, teaming up with the mining company to create a rare earth recycling line that will allow MP Materials to reprocess rare earth elements for use in Apple products.
MP Materials will also expand capacity at its Fort Worth Magnetics facility, beginning magnet shipments in 2027 that will support hundreds of millions of Apple products.
The expansion will specifically use recycled materials to produce magnets that allow iPhones to vibrate, according to the Associated Press.
