Apple commits $500M to U.S.-based rare earth recycling firm MP Materials

In a significant move poised to bolster the domestic supply chain for critical materials, tech titan Apple has announced a substantial $500 million investment in MP Materials, the leading and sole fully integrated rare earth mining company operating within the United States.

This strategic commitment, unveiled by Apple on Tuesday, centers on securing a robust supply of American-made rare earth magnets. These magnets will be developed at MP Materials’ state-of-the-art facility in Fort Worth, Texas, where specialized neodymium magnet manufacturing lines are being established specifically to cater to Apple’s product needs.

The collaboration underscores Apple’s dedication to enhancing its domestic sourcing capabilities. Once produced, these essential American-made magnets are slated for global distribution, addressing the escalating worldwide demand for these crucial components used in a myriad of advanced technologies.

Beyond immediate supply, the partnership extends to pioneering sustainability initiatives. Apple and MP Materials are set to jointly establish an innovative rare earth recycling line at Mountain Pass, California. This facility is designed to process recycled rare earth feedstock, encompassing materials derived from end-of-life electronics and post-industrial scrap, ensuring these valuable elements can be reintroduced into Apple’s manufacturing processes.

Further demonstrating a forward-looking approach, both companies will also engage in collaborative research and development. Their joint efforts aim to innovate new magnet materials and processing technologies, promising enhancements in magnet performance across Apple’s product ecosystem.

This $500 million commitment forms a crucial part of Apple’s broader pledge to invest over $500 billion in the United States economy within the next four years, reinforcing its long-term commitment to American manufacturing and innovation.

Apple has been a leader in integrating recycled materials into its products. The company first incorporated recycled rare earth elements into the Taptic Engine of the iPhone 11 in 2019. Today, an impressive almost all magnets utilized across Apple’s diverse range of devices are crafted using 100 percent recycled rare earth elements, showcasing a strong commitment to environmental stewardship and circular economy principles.