Apple Drops $500 Million on Rare Earth Magnets—Why iPhones Depend on Them

newsweek.com/apple-500-million-investment-rare-material-iphones-2099344

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Apple has signed a $500 million deal with MP Materials, a rare earth producer backed by the U.S. Department of Defense, to secure a domestic supply of critical magnets essential for iPhone production. The multi-year agreement underscores…

This story appeared on newsweek.com, 2025-07-15 17:09:11.
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