Apple Inks $500M Deal With the Only US Rare Earth Miner
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NYSE-listed MP Materials signed a long-term agreement to supply technology giant Apple with rare earth magnets manufactured in the US entirely from recycled materials, the companies announced on Tuesday.
MP Materials, which runs the only American rare earths mine, announced a new $500 million agreement with tech giant Apple on Tuesday to produce more of the powerful magnets used in iPhones as well as other high-tech products like electric vehicles.