Apple just spent $500 million to source a material that’s critical for iPhones from the US
CNN
Apple is investing $500 million in a deal with US rare earths company MP Materials as the iPhone maker faces pressure from President Donald Trump to produce its popular smartphones domestically.
Apple is investing $500 million in a deal with US rare earths company MP Materials as the iPhone maker faces pressure from President Donald Trump to produce its popular smartphones domestically. As part of the partnership announced on Tuesday, Apple committed to buying rare earth magnets directly from MP Materials to help bolster its US supply chain. Apple will also collaborate with the company on a new recycling line in California, which will repurpose recycled rare earth materials to use in Apple products. The move is part of a $500 billion investment Apple announced earlier this year to expand its US operations as the Trump administration pushes to onshore technology manufacturing and reduce reliance on China. Rare earths, which are critical for everything from smartphones to TVs and military jets, have been a key bargaining chip in trade talks between Washington and Beijing. That’s because China controls nearly all rare earths processing. “American innovation drives everything we do at Apple, and we’re proud to deepen our investment in the US economy,” Apple CEO Tim Cook said in a press release. “Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States.” MP Materials’ facility in Fort Worth, Texas, will create new magnet manufacturing lines specifically for Apple products. Shipments are expected to begin in 2027 and will eventually support “hundreds of millions of Apple devices,” according to MP Materials. The materials will be delivered throughout the United States and around the world. Apple says the expansion will create dozens of new jobs. Both companies will also provide training to develop a US workforce for magnet manufacturing.
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