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Apple commits $500 million over several years to buy US-made rare earth magnets
Apple has committed $500 million over several years to buy US-made rare earth magnets. This is a partnership with US Materials.
Apple just announced a commitment of $500 million over several years to buy rare earth magnets from the US-based company MP Materials. These rare earth magnets are used in a number of products, including iPhones, MacBooks and the Apple Pencil stylus. The two companies have also pledged to work together to improve upon a processing facility in Texas, building a series of manufacturing lines specifically designed for Apple products.
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