16/07/2025  Apple inks $500 million rare earth magnet deal to bring supply back to US

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Apple  has signed a $500-million deal with Pentagon-backed MP Materials for a supply of rare earth magnets, becoming one of the first tech companies to ink a U.S. supply agreement after China curbed exports earlier this year.

The move reflects strong backing for Las Vegas-backed MP by one of the world's most-valuable companies, coming just days after the U.S. government said it would become MP's largest shareholder. Both mark an amazing about-face for MP after it contemplated merging with an Australian rival last year just to survive.

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