💨 Abstract

MP Materials, the sole U.S. rare earth mine operator, secured a $500 million deal with Apple to produce magnets for iPhones and other tech products. Additionally, the U.S. Defense Department invested $400 million, becoming MP Materials' largest shareholder. Rare earth elements, crucial for smartphones, EVs, and military applications, are primarily controlled by China. These moves aim to reduce U.S.

Courtesy: WTOP Staff