Apple Injects $500 Million into MP Materials, Sole US Rare Earth Firm, Bolstering Local Supply Chain
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Author:小编   

Apple intends to invest $500 million in MP Materials, a leading rare earth mining company based in the United States, and will source its rare earth magnets to enhance its domestic supply chain. Additionally, both parties aim to establish recycling facilities and magnet manufacturing plants in California and Texas, thereby minimizing reliance on international suppliers. MP Materials has already secured a $400 million investment and a long-term procurement agreement from the US Department of Defense. Historically, MP Materials' Mountain Pass mine was the world's largest producer of rare earths but fell dormant in recent years amidst market competition. This partnership signifies a significant milestone in the US government's efforts to foster domestic supply chains.