MP Materials Forges $500M Partnership with Apple for US-Made, Recycled Rare Earth Magnets

MP Materials Corp. (NYSE:MP) is one of the best performing mid cap stocks so far in 2025. On July 16, MP Materials announced a definitive and long-term agreement with Apple Inc. (NASDAQ:AAPL) to supply US-manufactured, sustainable rare earth magnets. The partnership establishes sustainable and domestic supply chains for both companies. The magnets will be produced entirely from 100% recycled materials.

Under the terms of this $500 million partnership, MP Materials will manufacture the magnets at its Fort Worth, Texas, facility, known as Independence. The recycled rare earth feedstock for these magnets will be processed at MP Materials’ Mountain Pass site in California, which is the only active rare earth mining and processing facility in the United States. This feedstock will be sourced from post-industrial waste and end-of-life products, including magnet scrap and components.

The collaboration is the culmination of nearly 5 years of joint development between Apple and MP Materials, during which they have piloted advanced recycling technology to ensure that recycled rare earth magnets meet Apple’s stringent performance and design criteria. To fulfill the agreement with Apple and in line with a recent public-private partnership with the US Department of Defense/DoD, MP Materials will expand the capacity of its Fort Worth magnetics facility to include neodymium magnet production lines specifically tailored for Apple products.

MP Materials Corp. (NYSE:MP) produces rare earth materials in the Western Hemisphere and operates in 2 segments: Materials and Magnetics.

While we acknowledge the potential of MP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.