Apple Invests $500-M In Rare Earths Producer MP Materials

Apple has announced that it will invest $500 million in rare earths mine operator MP Materials as the iPhone maker seeks to localize its mineral supply chain, Zaheer Kachwala, Eric Onstad, and Ernest Scheyder reported for Reuters.

Apple said its investment in MP Materials is part of a broader $500 billion commitment to U.S. manufacturing. I Photo: MP Materials X

The investment is part of a broader initiative to bring the production of its flagship iPhones to the United States and strengthen domestic manufacturing—amid growing pressure from the Trump administration to reduce dependence on China.

Rare earths are a group of 17 metals essential for manufacturing magnets that convert power into motion.

China halted rare earth exports in March due to a trade dispute with U.S. President Donald Trump. Though tensions have slightly eased, the standoff has underscored the need for alternative supply sources.

Shares of Las Vegas-based MP Materials rose 10% to $52.37 in premarket trading.

Last week, MP struck a multibillion-dollar deal with the U.S. Department of Defense to boost rare earth magnet production and help reduce China’s dominance in the sector. Apple said its investment is part of a broader $500 billion commitment to U.S. manufacturing.

The agreement also includes plans for Apple to purchase U.S.-made magnets from MP’s Texas facility, marking the company’s first supply deal since securing the financial backing from Washington.