News Summary

• 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.
• The two companies will also collaborate to establish a rare- earth recycling line in Mountain Pass, California.
• Apple says the commitment is part of its pledge to spend more than $500 billion in the U.S. over the next four years.