MP Materials Shares Jump on Apple's $500M Rare Earth Deal
Warning! GuruFocus has detected 5 Warning Sign with MP.
Under the arrangement, Apple will purchase magnets produced at MP's Texas plant. The deal also covers building a magnet facility in Fort Worth and a recycling factory in Mountain Pass, Calif.
This collaboration aligns with the Trump administration's push to expand domestic rare earth operations for security purposes. A senior White House official described the pact as good for the country, good for American workers.
Just days earlier, the Defense Department revealed a $400 million funding package aimed at strengthening the U.S. supply chain and cutting dependence on China, which supplies roughly 60% of global critical minerals and processes up to 90%.
Due to the pact, analysts recommend that it will encourage further tech firms to think about investing in home mineral resources and transform the supply chain in the highstakes rare earth sector.
This article first appeared on GuruFocus.
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