Rare earths miner MP Materials hits record high on Apple investment
ReutersJul 15, 2025 5:15 PM
Shares of U.S. rare earths miner MP Materials MP.N extend surge; jump more than 29% to a record high of $62.87
Apple AAPL.O to invest $500 million as it seeks to localize its mineral supply chain
MP will supply AAPL with magnets produced at its Fort Worth, Texas facility
The companies will build another factory in Fort Worth, Texas to produce magnets and new recycling facility in Mountain Pass, California
APPL's investment in MP is a part of its $500 billion commitment to the United States
MP's deal with AAPL comes just a week after it signed a multi-billion dollar agreement with the U.S. Department of Defense
AAPL up 1% at $210.78
As of last close, MP stock was up nearly four-fold YTD
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