Apple’s investment in the mining company MP Materials will also help the tech giant reduce its dependence on China for rare earth metals.

MP Materials, the operator of the only rare earths mine in the United States, has signed a $500 million deal with Apple.

Apple has signed a $500 million deal with MP Materials for rare earth magnets, mitigating supply risks after China curbed exports this year and representing a major coup for MP that sent its shares soaring by a fifth.