MP Materials Rare Earth Magnets Supply Deal with Apple
Sector: Aerospace & Defense • Location: Fort Worth and Mountain Pass, Texas and California, United States
Source: The Economic Times
Apple has signed a $500 million multi-year deal with Pentagon-backed MP Materials for the supply of rare earth magnets. The magnets will be produced at MP's Fort Worth, Texas facility using recycled magnets from MP's Mountain Pass, California mining complex. This deal supports U.S. industrial policy for critical minerals and aligns with Apple's push to bring iPhone production to the United States.
- Status
- Closed
- Sector
- Aerospace & Defense, Manufacturing (Industrial), Government
- Location
- Fort Worth and Mountain Pass, Texas and California, United States of America
- Updated
- 22 Jul 2026
- Source
- The Economic Times
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Project Information
Participants
Sponsoring Agency |
Status
Original status | awarded |
Taiyo status | Closed |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Apple has signed a $500 million multi-year deal with Pentagon-backed MP Materials for the supply of rare earth magnets. The magnets will be produced at MP's Fort Worth, Texas facility using recycled magnets from MP's Mountain Pass, California mining complex. This deal supports U.S. industrial policy for critical minerals and aligns with Apple's push to bring iPhone production to the United States. |
Original sector | Industrial |
Budget |
Location
Country | United States of America (USA) |
State | Texas and California |
City | Fort Worth and Mountain Pass |
Source
Source | The Economic Times |
URL |
More Details
Record type | Project |
Sector | Aerospace & Defense, Manufacturing (Industrial), Government |
Article published date | 2025-09-15 |
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