Apple to recycle rare earth magnets in the US
What's the story
Apple has announced a massive investment of $500 million in MP Materials, a US-based rare earth mining company. The strategic partnership will see both firms working together to set up a rare earth magnet recycling facility in Mountain Pass, California. This move is part of Apple's broader commitment to invest $500 billion in the US over the next four years.
Recycling initiative
The new recycling facility will help produce Apple's products
The new recycling facility will enable Apple to use reprocessed electronics and scrap material in the production of its products. The tech giant has been working with MP Materials for nearly five years to test this innovative recycling technology. However, details about when this project will officially start have not yet been disclosed.
Production boost
Deal also includes these elements
Along with the recycling facility, the deal also includes an expansion of MP Materials' Fort Worth, Texas factory. This expansion will see neodymium magnet manufacturing lines being set up specifically for Apple products. The companies say this move will not only increase production capacity but also allow American-made magnets to be shipped across the US and globally starting from 2027.
Ramp-up
MP Materials plans to increase production capacity
MP Materials plans to increase production capacity "to support hundreds of millions of Apple devices." The company will also continue its partnership with Apple to enhance magnet production and end-of-life recovery. This announcement comes just months after MP Materials struck a deal with the Saudi Arabian Mining Company, aimed at creating an alternative supply chain for rare earths, which China currently dominates.