In a significant shift, MP Materials has announced a partnership with Apple that will redefine its role in the rare earth market. This collaboration marks a transition from being primarily a miner to becoming an integrated supplier of magnets.
The deal, which was finalized on May 9, 2026, is designed to enhance Apple's supply chain, particularly in the area of rare earth materials essential for various technologies.
This partnership is expected to contribute to an increase in domestic production of rare earth elements, which are critical for numerous industries and applications.