Apple, rare and MP Materials
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The long-term bull case for the stock rests on the idea that U.S. administrations will aim for rare earth material independence from China, and MP Materials, a company that operates the only rare earth and processing facility, at Mountain Pass in California, , will be a key part of the process.
MP Materials announces a public-private partnership with the US Department of Defense to accelerate the build-out of an end-to-end US rare earth magnet supply chain.
MP Materials Corp (NYSE:MP) shares are rising Tuesday after the company signed a long-term agreement to supply Apple Inc (NASDAQ:AAPL).
However, it’s not just the government rushing to ensure rare earth supply. Apple (NASDAQ: AAPL) has one-upped the Pentagon by announcing a $500 million agreement with MP Materials to secure recycled rare earth magnets.