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flag Apple secures $500M deal for rare earth magnets, reducing reliance on China and boosting US production.

flag Apple has made a $500 million deal with MP Materials, the US's only rare earth producer, to secure the supply of rare earth magnets used in its products like iPhones and MacBooks. flag The move aims to reduce reliance on China for critical components and support domestic production. flag The agreement also includes plans to develop a recycling facility in California and a new factory in Texas to produce magnets starting in 2027. flag This strategic investment aligns with Apple's commitment to invest $500 billion in the US over four years.

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