Apple cuts a deal for recycling rare earth magnets in the US

Apple, a leading tech company, has announced a $500 million investment in MP Materials, a rare earth mining company based in the US. The partnership aims to develop a rare earth magnet recycling line in Mountain Pass, California, allowing Apple to use reprocessed electronics and scrap material to build its products. This investment is part of Apple's commitment to spend $500 billion in the US over the next four years. The deal also involves expanding MP Materials' Fort Worth, Texas factory with neodymium magnet manufacturing lines designed for Apple products, which will help boost production and enable the shipment of American-made magnets globally. The partnership is seen as a strategic move to reduce Apple's reliance on China's dominant rare earths supply chain, which was put at risk due to Trump's tariffs. It also aligns with Apple's goal to use more recycled materials in its products and support American manufacturing.