Apple commits $500 million over several years to buy US-made rare earth magnets

Apple just announced a commitment of $500 million over several years to buy rare earth magnets from the US-based company MP Materials. These rare earth magnets are used in a number of products, including iPhones, MacBooks and the Apple Pencil stylus. The American-made magnets will be shipped throughout the world, to help "meet increasing global demand for the material."<br /> MP Materials is the only fully integrated rare earth producer in the country. The two companies have also pledged to work together to improve upon a processing facility in Texas, building a series of manufacturing lines specifically designed for Apple products. Once finished, the factory will "support dozens of new jobs in advanced manufacturing and R&D."<br /> “American innovatio [...]