NYSE-listed MP Materials signed a long-term agreement to supply technology giant Apple with rare earth magnets manufactured in the US entirely from recycled materials, the companies announced on Tuesday.

Under the agreement, worth $500-million, magnets will be produced at MP’s Fort Worth facility, dubbed Independence, using post-industrial and end-of-life rare earth materials processed at the company’s Mountain Pass site in California. The feedstock will come from recycled sources.

“We are proud to partner with Apple to launch MP’s recycling platform and scale up our magnetics business,” said MP Materials founder, chairperson and CEO James Litinsky.

“This collaboration deepens our vertical integration, strengthens supply chain resilience, and reinforces America’s industrial capacity at a pivotal moment.”

To support the agreement, MP will build a commercial-scale recycling line at Mountain Pass capable of processing a wide range of inputs, including magnet scrap and components from end-of-life devices. Magnet shipments to Apple are expected to begin in 2027, with volumes scaling to support hundreds of millions of devices.

The two companies have collaborated for nearly five years to pilot recycling technologies that meet Apple's performance and design specifications. The agreement also includes joint innovation efforts to advance magnet production and recovery technologies.

Rare earth magnets are used in smartphones, computers, electric vehicles robotics, and clean energy systems. By sourcing these materials domestically from recycled inputs, the partnership aims to enhance supply chain security and reduce environmental impact.

The announcement follows MP’s public-private partnership with the US Department of Defense (DoD), unveiled last week, which includes a multibillion-dollar package to boost domestic magnet production. The DoD-backed 10X Facility, a second plant planned for commissioning in 2028, will raise MP’s US capacity to 10 000 t/y.