Mp Materials Corp.
MP Materials and Apple Announce $500M Long-term Supply Agreement
Summary
On July 15, 2025, MP Materials Corp. announced a $500 million long-term supply agreement with Apple Inc. for the development, manufacture, and supply of magnets from MP's Independence facility. Apple will make a prepayment of $200 million. The agreement includes the development and installation of scaled recycling capabilities at Mountain Pass to produce magnets from recycled rare earth feedstocks. This partnership supports U.S. manufacturing and circular supply chains.
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About Mp Materials Corp.
Mp Materials Corp. is a leading producer of rare earth materials. This company plays a critical role in the supply chain for high-tech applications, producing essential elements like Neodymium-Praseodymium (NdPr) that are fundamental in manufacturing permanent magnets used in electric vehicles, wind turbines, and various electronic devices. The primary function of Mp Materials is to mine and process rare earth elements, which are crucial in advancing today's technological innovations and clean energy solutions. Operating from the Mountain Pass mine in California, one of the richest deposits outside of China, Mp Materials is a pivotal player in reducing the US's dependency on foreign rare earth supplies. By maintaining a vertically integrated supply chain, the company impacts sectors spanning automotive, renewable energy, and defense, highlighting its significance in both domestic and international markets. Mp Materials' strategic emphasis on sustainability and environmental stewardship enhances its role in the evolving landscape of green technologies and efficient resource utilization.
Official SEC Documents
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