Apple says it will invest $500 million in a magnet plant in Texas and an MP Materials recycling facility in California that will focus on rare earth elements recovery.

Apple has announced a $500 million multi-year commitment with MP Materials, the only U.S. company that mines, processes, and manufactures rare earth materials entirely in-house. The deal supports Apple’s ongoing goal of strengthening domestic supply chains for critical materials, especially neodymium magnets used in its devices.