Apple Inks $500M Deal With the Only US Rare Earth Miner
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EXCLUSIVE: Apple is expected to announce a $500 million commitment to MP Materials — the only rare earth mine currently operating in the United States, according to multiple sources familiar with the deal.
As of 11:13 a.m. ET, shares of USA Rare Earth are up 25.4%. While USA Rare Earth didn't have anything to report today, one of its leading peers did. MP Materials announced a $500 million partnership with Apple that will see the companies collaborate on the production of recycled rare-earth magnets.