MP Materials (MP) says Apple (AAPL) agreed to make $200M prepayment

On July 15, 2025, MP Materials (NYSE: MP) entered into a $500 million definitive, long-term supply agreement with Apple Inc. (NADSAQ: AAPL) for the development, manufacture, and supply of magnets from the Company’s Independence facility, as well as the development and installation of scaled recycling capabilities at Mountain Pass to produce the contained rare earths from post-industrial and post-consumer recycled rare earth feedstocks. In connection with the agreement, Apple has agreed to make a prepayment of $200 million for the purchase of magnets from the Company.

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