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Apple commits $500M to US-based rare-earth recycling firm MP Materials
The factory will develop a series of neodymium magnet manufacturing lines specifically designed for Apple products.
The tech giant announced on Tuesday that with this deal, it’s committed to buying American-made rare earth magnets developed at MP Materials’ flagship facility in Fort Worth, Texas. The factory will develop a series of neodymium magnet manufacturing lines specifically designed for Apple products. Apple says that once the American-made magnets are built, they will be shipped across the country and all over the world to help address increasing global demand for the material.
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