Apple to invest $500 million in rare earth mine operator MP Materials
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最新报道：Apple is expected to announce a $500 million commitment to MP Materials, the operator of the only rare earth mine in the United States, Fox Business News reported on Tuesday, citing multiple people familiar with the matter. Apple and MP Materials did not immediately respond to Reuters' request for comment. Last week, MP Materials reached a multi-billion dollar agreement with the U.S. government to increase production of rare earth magnets and help weaken China's dominance in such materials. Rare earth magnets are used to make weapons, electric vehicles and many electronic products. Fox Business News reported that the agreement includes plans for Apple to purchase U.S.-made rare earth magnets from MP Materials' plant in Texas. MP Materials is already producing mined and processed rare earths and said it expects to start commercial production of rare earth magnets at its Texas plant around the end of this year. Fox Business News also noted that the two companies will build another plant in Fort Worth, Texas, to produce magnets and a new recycling plant in Mountain Pass, California. The agreement reached with the U.S. Department of Defense last week includes a price floor for rare earths, a move designed to stimulate investment in domestic mines and processing plants. Such investment had previously lagged, in part because of low prices set by China.
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