MP Materials, which runs the only American rare earths mine, announced a new $500 million agreement with tech giant Apple on Tuesday to produce more of the powerful magnets used in iPhones as well as other high-tech products like electric vehicles.

The coal company has started excavating its Wyoming critical minerals find. CEO Randy Atkins doesn’t want the Pentagon’s money, but he does want a U.S. strategic reserve.

MP Materials’ goal to become a national rare-earths “champion” that can go toe-to-toe with China was turbocharged by Pentagon investment and an Apple deal. But its journey there highlights the hurdles American producers face.

USA Rare Earth, Inc. USAR +23.5% + Free Alerts is another U.S.-based company involved in the mining, processing and supply of rare earth elements and other critical minerals. Founded in 2019 and headquartered in Stillwater, Oklahoma, USARE is working to develop a vertically integrated domestic supply chain for rare earth element magnet production.

The U.S. Department of Defense plans to continue working with rare earths companies to ensure diverse American supply of the critical minerals used across the economy, a defense official told Reuters on Tuesday.

Gracelin Baskaran of CSIS says Japan's push to develop deep sea rare earth mining manufacturing capabilities are crucially needed. She also discusses the various issues surrounding deep sea mining, such as maritime security and environmental concerns.

Mahindra & Mahindra Ltd. denies reports of collaborating with Uno Minda on local rare earth material production, stressing ongoing assessments of business opportunities and commitment to transparency.