Apple will purchase rare earth minerals from American manufacturer MP invested by the Pentagon.

Apple Inc. has reached a $500 million deal to purchase rare earth minerals from the U.S. rare earth producer MP Materials Corp. MP just received an investment from the Pentagon last week. Apple announced on Tuesday that the two companies will build a factory in Texas to specifically create a neodymium magnet production line for Apple products. Apple stated that this investment in rare earth minerals is part of its commitment to invest over $50 billion in the U.S. over the next four years. MP's stock price rose 9% in pre-market trading. Apple's stock price remained largely unchanged.