A view of mining facilities at the MP Materials rare-earth mine in Mountain Pass, California, on Jan. 30, 2020. Steve Marcus/Reuters
Apple Inc. and MP Materials announced on July 15 a $500 million deal to expand the nation’s only rare-earth processing plant, supporting the production of recycled magnets that will help power Apple smartphones and other devices.
Under the agreement, MP Materials will supply Apple with magnets manufactured at its Fort Worth, Texas, facility—known as Independence—using recycled rare-earth feedstock processed at MP Materials’ Mountain Pass site in California.
