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 investment in MP Materials, a rare earth mining company based in the US. With the deal, the two companies will partner on the development of a rare earth magnet recycling line in Mountain Pass, California, allowing Apple to use reprocessed electronics and scrap material to build its products.

Apple’s deal with MP Materials is more than just a supply-chain strategy. It's a geopolitical insurance policy.