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A RARE (EARTH) DEAL

MP Materials Stock Jumps 24%. How Apple Gave Rare Earth Company a Boost.

By Nate Wolf
TECHNOLOGY
  • Apple has made a $500 million commitment to purchase recycled rare-earth magnets from MP Materials.
  • The companies will jointly develop a supply line to process recycled materials at MP’s site in Mountain Pass, Calif.
  • Shipments begin in 2027, but Apple will prepay $200 million as part of the deal.
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