MP Materials Poised to Boost Domestic Rare Earth Material, Magnet Production

July 18, 2025--Researched by Industrial Info Resources (Sugar Land, Texas)--MP Materials Corporation (Las Vegas, Nevada), the only rare earth producer in the U.S., reached a long-term agreement to supply Apple Incorporated (Cupertino, California) with rare earth magnets, which came a week after the Department of Defense (DoD) agreed to become the largest shareholder in the company and pledged capital investment. Industrial Info is tracking $1.3 billion worth of projects from MP Materials.