Apple Invests $500 Million in U.S. Rare-Earth Supply Chain
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Apple has committed $500 million to buying recycled rare earth magnets from MP Materials, a mining company with a major manufacturing hub in far north Fort Worth.
Apple’s investment in the mining company MP Materials will also help the tech giant reduce its dependence on China for rare earth metals.
Apple's bold move to secure domestic rare earth magnets may have ripple effects across multiple industries, from smartphones to electric vehicles.
American innovation drives everything we do at Apple, and we’re proud to deepen our investment in the U.S. economy,” said Apple CEO Tim Cook.
Apple has long offered a refurbished store on its website, where it sells recent generation products at a pretty