Apple backs President Trump’s rare earth minerals push, invests $500 million in American mine

Apple is expected to announce a $500 million commitment to MP Materials — the only rare earth mine currently operating in America, Fox Business reports citing “multiple sources familiar with the deal.”
Brooke Singman for FOX Business:
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The agreement includes plans for Apple to purchase American-made rare earth magnets from MP Materials’ Texas facility, marking a “major win” for the Trump administration, according to those familiar with the deal.
The Trump administration has made rare earth mining and bolstering domestic supply chains two of its top national security priorities.
Apple’s agreement with MP Materials is also expected to include the building of a new recycling facility in Mountain Pass, California, which will reprocess materials from used electronics to be used in future Apple products.
Sources told Fox News Digital that Apple and MP Materials will also build another factory in Fort Worth, Texas, to produce magnets that will be used in Apple products and other electronics around the globe.
“This is a huge win for the president, who has the foresight to make this issue a priority,” a senior White House official told Fox News Digital. “Apple deserves a lot of credit for stepping up,” the official continued. “It’s good for the country, good for American workers, and it’ll prove to be good business, too.”
The senior White House official added: “Other companies should take notice.”

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MacDailyNews Take: This agreement comes days after the Department of Defense announced that it is also taking a $400 million stake in MP Materials and should earn Apple some more good will regarding U.S. import tariffs as U.S. trade deals with China and other countries are inked.

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