Apple makes 500 million US dollars with Bergmann -MP materials for magnets.

Apple and miner MP materials Tuesday announced a deal of 500 million US dollars for rare Earth magnets and the development of a recycling system that will strengthen the US supply chain of the iPhone manufacturer.

MP materials rose by 23%. The apple shares were slightly higher.

As part of the agreement, Apple will buy rare earth magnets that were created in the establishment of the company in Fort Worth, Texas. Both companies will combine on a new rare earth recycling line in Mountain Pass, California. MP materials plans to start shipping in 2027.

“American Innovation drives everything we do at Apple and we are proud to deepen our investment in the US economy,” said Apple CEO Tim Cook in a press release. “Rare earth materials are of essential importance for the production of progressive technology, and this partnership will help strengthen the supply of these important materials here in the USA.”

Apple said the deal would create dozens of new manufacturing, research and development roles.

Rare earth magnets are key components that make up everything from consumer electronics such as smartphones and computers to cars and renewable energy systems.

For years, the United States has been working on saying its dependence on China, which dominates the Global rare earth elements. MP materials operate the only rare dates in the USA

At the beginning of this month, the Ministry of Defense became the largest shareholder of the rare Earth Miner and bought $ 400 million in preferred shares to improve the magnetic supply of rare earth on American soil.

Apple announced a plan to invest more than 500 billion US dollars to improve the US manufacturing functions at the beginning of this year. The plan included a new factory for artificial intelligence servers in Texas.

The shares of MP materials have almost quadrupled since the beginning of the year and increased the miner's market capitalization to almost 10 billion US dollars. The share has almost doubled last month.

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