Apple drops $500M million on rare Earth magnets
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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.
Currently, the U.S. lags behind China in the production of these materials, easily the world’s biggest miner of them. This has prompted President Trump to try to boost manufacturing in the U.S., given China’s leverage in this area and the ongoing trade war.