Apple and MP to build rare earth magnet recycling plant in $500M deal

Apple and mining company MP Materials announced a joint $500 million investment to develop a rare earth magnet recycling facility, with plans to bolster U.S.-based production and reduce reliance on China.

Under the agreement, Apple will purchase rare earth magnets from MP Materials' expanded factory in Fort Worth, Texas, starting in 2027.

A dedicated commercial-scale recycling line will also be built at MP’s Mountain Pass facility in California. It will process magnet waste and materials recovered from end-of-life electronics, aligning with Apple’s sustainability goals and defense-related U.S. partnerships.

The move is expected to create dozens of new manufacturing and R&D jobs, and eventually support hundreds of millions of Apple devices. Both companies will also work to accelerate innovations in magnet production and recycling technology.

Apple CEO Tim Cook highlighted the partnership as vital for boosting American innovation and said, “American innovation drives everything we do at Apple, and we’re proud to deepen our investment in the U.S. economy”.

The U.S. has long depended on China for rare earth elements, but MP Materials—operator of the country’s only rare earth mine—is leading efforts to localize supply.

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