The factory will develop a series of neodymium magnet manufacturing lines specifically designed for Apple products.

MP Materials, the operator of the only rare earths mine in the United States, has signed a $500 million deal with Apple.

Apple has announced a $500 million investment in MP Materials, a rare earth mining company based in the US. With the deal, the two companies will partner on the development of a rare earth magnet recycling line in Mountain Pass, California, allowing Apple to use reprocessed electronics and scrap material to build its products.