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;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.