Apple (NASDAQ:AAPL) and MP Materials (NYSE:MP) have signed a US$500 million supply agreement to manufacture rare earth magnets in the US from 100 percent recycled materials. Under the deal, MP will deliver recycled magnets starting in 2027 to support “hundreds of millions” of Apple devices,

Ramaco Resources (NASDAQ:METC) +10.7%, and USA Rare Earth (NASDAQ:USAR) +7.8% pre-market Wednesday a day after Apple reached a $500M deal to buy rare earth metals from MP. On Tuesday, shares of MP Materials (MP),

However, it’s not just the government rushing to ensure rare earth supply. Apple (NASDAQ: AAPL) has one-upped the Pentagon by announcing a $500 million agreement with MP Materials to secure recycled rare earth magnets.