MP Materials and Apple have entered into a $500 million definitive agreement to supply rare earth magnets manufactured in the United States from 100% recycled materials. As first reported by Yahoo Finance, the deal marks a milestone for both companies in advancing sustainable supply chains for key components used in consumer electronics such as smartphones, tablets, and computers.
The magnets will be produced at MP Materials’ Fort Worth Magnetics facility in Texas, using recycled rare earth materials processed at Mountain Pass, California. The Mountain Pass site is notable as the only operational rare earth mining and processing facility in the United States, underscoring its strategic importance to domestic supply chains. These recycled inputs will be sourced from various post-industrial and end-of-life waste streams, including magnet scrap and components from decommissioned devices.
This collaboration is the result of nearly five years of joint research and development efforts between Apple and MP Materials. During this time, the teams piloted advanced recycling technologies aiming to meet Apple’s strict design and performance requirements for its products. Under the new agreement, MP Materials will expand its Fort Worth facility with additional manufacturing lines dedicated to producing high-performing neodymium magnets specifically for Apple’s needs.
To enable the large-scale use of recycled rare earths, MP Materials is planning to construct a new commercial recycling line at Mountain Pass. This installation is expected to process a diverse range of recycled magnet inputs and supply feedstock for Apple’s product lines. Magnet shipments are projected to begin in 2027, supporting the production of hundreds of millions of Apple devices.
Company officials say the agreement is designed to reduce reliance on international supply sources—particularly those located in China—and address the sustainability of rare earth component sourcing. The U.S. currently imports the bulk of its rare earth magnets, with China historically dominating both mining and magnet production. By localizing sourcing and manufacturing, the partnership seeks to strengthen national supply chain resilience and reduce environmental impact.
The Apple-MP Materials announcement arrives alongside significant moves by the U.S. government to bolster domestic rare earth supply. In a related initiative, the U.S. Department of Defense has invested $400 million in MP Materials, making it the company’s largest shareholder. This investment supports a decade-long contract to purchase all magnets produced at a new facility, with guaranteed minimum prices for critical elements such as neodymium and praseodymium. The Defense Department’s actions are intended to stabilize prices, ensure domestic supply, and reduce U.S. dependency on Chinese rare earth exports.
Investors responded positively to the news, with MP Materials’ stock price surging following the public announcements. Earlier this month, the company also commenced a $500 million public stock offering to fund further expansion and meet increasing industry demand.
While the Pentagon's approach—described by some as a “China-style” industrial policy—has sparked debate within the industry, analysts suggest the convergence of government and private sector partnerships signals an era of renewed American investment in strategic critical minerals.
For more information and ongoing updates, see the detailed coverage at Yahoo Finance, AP News, and the official releases from MP Materials and Apple.