Apple’s MP Materials Contract is a “major victory” for Trump administrators: Senior White House officials
The “Big Money Show” panel discusses President Donald Trump’s plans to acquire more rare earth materials and more.
Exclusive: Apple plans to announce its $500 million commitment MP Materials – The only Rare Earth Mines It currently operates in the US, according to multiple sources who are well-versed in trading.
The contract includes plans apple It will purchase American-made rare earth magnets from MP Materials’ Texas facility, marking the Trump administration’s “big victory” according to those familiar with the deal.
Senate Republicans move to give China an advantage in harvesting minerals for weapons systems
Made by the Trump administration Rare Earth Mining We strengthened our domestic supply chains to strengthen two of our national security priorities.
Apple plans to announce its $500 million commitment to MP materials.
Apple’s agreement with MP Materials is also expected to include the construction of a new recycling facility in Mountain Pass, California. The facility will reprocess the materials of electronic equipment used in future Apple products.
Sources told Fox News Digital that Apple and MP materials will also build another factory in Fort Worth, Texas, to produce magnets used in Apple products and other electronic devices around the world.
“This is a huge victory for a president with the foresight to make this an issue a priority,” a senior White House official told Fox News Digital.
MP materials block US rare earths to China amid ongoing customs warfare
“Apple deserves a lot of credit to step up,” the official continued. “It’s good for the country, good for American workers, and it also proves to be a good business.”
A senior White House official added: “Other companies need to be careful.”
The agreement comes days after the Department of Defense announced it had acquired $400 million stake in MP Materials.
View of MP Material Rare Earth Open Pit Mine in Mountain Pass, California, January 30, 2020. (Steve Marcus/Reuters/Reuters Photos)
The company called government investments “transformational public-private partnerships” and said the investment has begun efforts to “accelerate the build-out of the end-to-end rare earth magnet supply chain and reduce foreign dependence.”
Today, China produces around 60% of the world’s important mineral supply, with up to 90% processing.
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The deal comes after the president Donald Trump Following numerous White House tariffs on China and other countries, he signed a deal with Chinese national President Xi Jinping to resume trade in key minerals after shipments stopped in 2025.
Trump signed an executive order in March to increase America’s mineral production. The president said it is “essential” for US national security to act immediately to promote domestic mineral production to the greatest possible extent.