MP Materials signs $500M long-term recycled rare earth magnet supply deal with Apple

MP Materials Corp. / DE

Agreement value $500 million; Apple makes $200 million prepayment for magnet purchases.
MP will supply magnets from 100% recycled materials, processed at Mountain Pass and manufactured at Fort Worth.
Magnet shipments expected to begin in 2027, supporting hundreds of millions of Apple devices.
MP to significantly expand Fort Worth magnetics facility capacity in connection with the deal.

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