Apple is pre-bunkering against China with its $500 million deal to buy American rare-earth magnets

Tim Cook throws up a peace sign (Credit: Dimitrios Kambouris—Getty Images)

Apple just announced a $500 million commitment to MP Materials, the only fully integrated rare-earth producer in the United States.

The multiyear deal, which includes a $200 million upfront payment, will see Apple source American-made rare-earth magnets from MP’s new manufacturing lines in Fort Worth, Texas, and collaborate on a state-of-the-art recycling facility in Mountain Pass, California.