Lates News

Apple Inc. has reached a $500 million deal to purchase rare earth minerals from American rare earth producer MP Materials Corp. MP just received an investment from the Pentagon last week. Apple stated on Tuesday that the two companies will build a factory in Texas to specifically produce neodymium magnets for Apple products. Apple said that this investment in rare earth minerals is part of its previous commitment to invest over $50 billion in the United States over the next four years. MP's stock price rose by 9% in pre-market trading. Apple's stock price remained relatively unchanged.