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Apple Drops $500 Million on Rare Earth Magnets—Why iPhones Depend on Them

Upworthy Tuesday, 15 July 2025 ()
Voice is AI-generated. Inconsistencies may occur. Apple has signed a $500 million deal with MP Materials, a rare earth producer backed by the U.S. Department of Defense, to secure a domestic supply of critical magnets essential for iPhone production. The multi-year agreement underscores Apple's…
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