Apple signs deal with MP Materials to acquire rare earths for over 74 billion yen
Apple has announced that it has signed a $500 million (approximately 74.4 billion yen) contract with MP Materials, the only rare earth producer in the United States. Under the agreement, Apple will purchase rare earths produced in the United States and work with MP Materials to build a rare earth recycling facility.
Apple expands US supply chain with $500 million commitment - Apple
MP Materials and Apple Announce $500 Million Partnership to Produce Recycled Rare Earth Magnets in the United States | MP Materials
Apple inks $500 million rare earth magnet deal to bring supply back to US | Reuters
Apple and MP Materials have signed a long-term agreement to supply rare earth magnets made in the United States from 100% recycled materials.
Under the agreement, MP Materials will supply Apple with American-made rare earth magnets produced at its flagship Independence facility in Fort Worth, Texas, and will also build a recycling facility in Mountain Pass, California, to produce raw materials, as well as develop new magnetic materials and innovative processing techniques to improve the performance of rare earth magnets.
According to Apple, this is part of its commitment to invest more than $500 billion in the United States over the next four years.
Apple announces plans to invest 75 trillion yen in America and hire 20,000 new employees - GIGAZINE
'American innovation drives everything we do at Apple, and we're proud to expand our investment in the American economy,' said Apple CEO Tim Cook. 'Our partnership with MP Materials will strengthen the U.S. supply of rare earth materials critical to advanced technology manufacturing. We couldn't be more excited about the future of American manufacturing, and we continue to invest in the ingenuity, creativity and innovative spirit of the American people.'
'We are proud to partner with Apple to launch MP Materials' recycling platform and expand our magnet business,' said James Liczynski, founder, chairman and CEO of MP Materials. 'Our partnership with Apple deepens our vertical integration, strengthens our supply chain resiliency, and advances American industrial capacity at a critical time.'
The United States imports rare earths from China, but China temporarily halted exports due to Trump's tariffs. After subsequent discussions, President Trump commented that 'the rare earths we need will be supplied by China.'
President Trump: 'China will supply the rare earths we need' - emphasizes good relations | NHK | Tariffs
https://www3.nhk.or.jp/news/html/20250611/k10014832801000.html
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