Updates

** Shares of U.S. rare earths miner MP Materials MP.N jump more than 19% to over three-year high of $57.50

** Apple AAPL.O to invest $500 million as it seeks to localize its mineral supply chain

** MP will supply AAPL with magnets produced at its Fort Worth, Texas facility

** The duo will build another factory in Fort Worth, Texas to produce magnets and new recycling facility in Mountain Pass, California

** APPL's investment in MP is a part of its $500 billion commitment to the United States

** MP's deal with AAPL comes just a week after it signed a multi-billion dollar agreement with the U.S. Department of Defense

** AAPL up marginally at $209.72

** As of last close, MP stock was up nearly four-fold YTD

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))