other material
confidence high
sentiment positive
materiality 0.85
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.