Apple has committed $500 million to buying recycled rare earth magnets from MP Materials, a mining company with a major manufacturing hub in far north Fort Worth.

MP Materials is a US producer that just last week secured backing from the Pentagon, and will now be working with the biggest name in consumer technology.

US-based rare earth producer MP Materials has entered into a definitive, long-term agreement with tech giant Apple to supply US-manufactured, sustainable rare earth magnets. These magnets will be produced using 100% recycled materials in a significant step in both companies' commitment to sustainable and domestic supply chains.